Often Asked Questions – Cash Advance Suggestions for Customers

Often Asked Questions – Cash Advance Suggestions for Customers

Listed below are answers to typical questions regarding Manitoba’s pay day loan legislation. In the event the question is maybe perhaps maybe not answered below or you need further information or help be sure to contact:

Consumer Protection Workplace 302-258 Portage Avenue Winnipeg, Manitoba R3C 0B6

  • Phone (Winnipeg and area that is surrounding: 204-945-3800
  • Toll-free in Manitoba: 1-800-782-0067
  • Fax: (204) 945-0728
  • E-mail: consumers@gov. Mb.ca

Applicable Legislation

  • The customer Protection Act, C.C.S. M, c. 200. (referred to once the ‘Act’)
    • The buyer Protection Amendment Act (pay day loans) S.M. 2006, c. 31.
    • The customer Protection Amendment Act (payday advances) S.M. 2009, c. 12.
  • The pay day loans Regulation (legislation 99/2007) (known as the ‘Reg’)
    • The payday advances Regulation, amendment (legislation 3/2009)
    • The pay day loans Regulation, amendment (legislation 50/2010)
  • The non-public Investigations Act, C.C.S.M. C. P34
  • The Personal Investigations Regulation (Regulation 392/87R)
  • The company Tactics Act, C.C.S.M. C. B120

1. What’s a cash advance?

A loan that is payday a loan of cash of no more than $1500.00 for the term of not any longer than 62 times (excluding any expansion or renewal). S. 137 and 138(1) Act and s. 2 Reg

2. What exactly is a lender that is payday?

A payday lender is an authorized company or individual who provides, organizes or supplies a pay day loan.

For instance, this will consist of a company that only offers, arranges or supplies a loan that is payday or it could be a small business that along with providing pay day loans now offers other items or services such as for instance pawn broking, tax rebating, or retail items. Cash advance agents are regarded as lenders that are payday defined into the Act. S. 137 Act

3. Does a lender that is payday to be certified to supply payday advances in Manitoba?

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