If passed, the Alternative Financial Services Statute Law Amendment Act would make amendments to the Payday Loans Act, Consumer Protection Act and the Collection and Debt Settlement Services Act that would increase protections for consumers in several important new ways, for example:
Protecting Ontario’s consumers is part of the government's plan to build Ontario up. The four-part plan includes investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
“As we fight poverty in Ontario, we need to do more to protect vulnerable people from falling into poverty. Greater awareness by consumers of the costs of borrowing money and protection of consumers from unfair and exploitive business practices are important parts of our strategy to reduce poverty.”
— MPP Amrit Mangat, Mississauga-Brampton South
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MPP Amrit Mangat
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