A Guide To Disclosure Requirements Under The Ontario Consumer Protection Act

A Guide to Disclosure Requirements under the Ontario Consumer Protection Act

The Ontario Consumer Protection Act, SO 2002, c 30, Sched A (the "CPA") specifies the financial disclosure obligations imposed on lenders in order to provide consumers with clear, transparent information about the details of their often complex credit agreement. While the CPA's regulations are extensive, there is comparatively little guidance or case law interpreting these provisions or providing a comprehensive set of parameters within which a lender may achieve compliance. This article is therefore intended to provide a detailed review of these disclosure obligations as well as an overview of the consequences of non-compliance.