Bill C-266
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SUMMARY |
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The purpose of this enactment is to establish the office of Credit
Ombudsman to be an advocate for the interests of consumers in credit
matters and to investigate and report on the provision by financial
institutions of consumer and small business credit by electoral district
or community, by industry group and by sex of the applicant, in order
to ensure equity in the distribution of credit resources.
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Financial institutions who fail to improve credit policies and
practices on the request of the Ombudsman will be reported to the
Minister and the report referred to the Standing Committee on Finance
for investigation.
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