CLA’s September Legal Update

This monthly report covers any consumer and commercial Lending regulatory and policy activity on a provincial and federal level for the month of September.

Please note the Open Banking* review that was set out in the 2018 federal budget. Please make sure this is on your radar.

The report details:

• Jurisdiction
• Name of Law/Regulation
• Brief Summary of Changes

The report is prepared monthly by the Advocacy and Regulatory Committee of the Canadian Lenders Association. For more information please go to http://localhost:8888/cla_li/committees/. Special thanks to Blake, Cassels & Graydon LLP.

For information on becoming a member of the Canadian Lenders Association, please contact canadianlenders@gmail.com and review http://localhost:8888/cla_li/membership/

* “Open Banking” refers to an emerging financial services business model that focuses on the portability and open availability of customer data, including transactional information. The core aim of open banking is to enable consumers to share their financial data between their financial institution and third party providers (and between financial institutions), typically through the use of application programming interfaces (APIs).