Consumer Credit Code

The Consumer Credit Code protects borrowers from deception, fraud, and other illegal dealings by lenders and financial institutions. It gives you specific rights to information and requires lenders to disclose important details such as the comparison rate (true rate), annual percentage rate, fees and commissions, and your rights and obligations as borrower, in a written contract signed by both parties. Home, personal, and domestic loans are all protected by the Consumer Credit Code regardless of the loan amount. The Consumer Credit Code also applies to strata corporations, but not to other companies.