Acts and Regulations

C-28.3 - Cost of Credit Disclosure and Payday Loans Act

Section 37.3
Disposition versions

Full text
Information to be posted
2008, c.3, s.1
37.3(1)A payday lender shall, in accordance with the regulations, post prominently and at each location at which the payday lender is licensed to offer, arrange or provide payday loans, signs that clearly and understandably set out, in the form required by the regulations,
(a) all components of the total cost of credit, including all fees, penalties, rates, commissions, charges, interest and other amounts and consideration for a representative payday loan transaction, and
(b) any other information required by the regulations.
37.3(2) For the purposes of subsection (1), a transaction is a representative payday loan transaction if its terms are typical of the terms of the payday loan agreements to which the advertisement relates.
2008, c.3, s.1