Credit Ombudsman Act

An Act to establish the position and Office of the Credit Ombudsman, who shall be an advocate of the interests of consumers and small businesses in credit matters and who shall investigate and report on the provision, by financial institutions, of consumer and small-business credit on a community basis and on an industry basis, in order to ensure equity in the distribution of credit resources

This bill was last introduced in the 40th Parliament, 3rd Session, which ended in March 2011.

This bill was previously introduced in the 40th Parliament, 2nd Session.

Sponsor

Pat Martin  NDP

Introduced as a private member’s bill. (These don’t often become law.)

Status

Introduced, as of Jan. 27, 2009
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

The purpose of this enactment is to establish the position and Office of the Credit Ombudsman, who will be an advocate of the interests of consumers and small businesses in credit matters and who will investigate and report on the provision, by financial institutions, of consumer and small-business credit on the basis of community, industry group and sex of the applicant, in order to ensure equity in the distribution of credit resources.

Financial institutions that fail to improve credit policies and practices on the request of the Credit Ombudsman will be reported to the Minister of Finance, and the report will be referred to the Standing Committee on Finance for investigation.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, provided by the Library of Parliament. You can also read the full text of the bill.

Credit Ombudsman ActRoutine Proceedings

January 27th, 2009 / 3:30 p.m.
See context

NDP

Pat Martin NDP Winnipeg Centre, MB

moved for leave to introduce Bill C-266, An Act to establish the position and Office of the Credit Ombudsman, who shall be an advocate of the interests of consumers and small businesses in credit matters and who shall investigate and report on the provision, by financial institutions, of consumer and small-business credit on a community basis and on an industry basis, in order to ensure equity in the distribution of credit resources.

Mr. Speaker, I thank my colleague, the member for Thunder Bay—Rainy River, for seconding this bill as well.

The purpose of the bill is to provide for a review of the possibility of using proportional representation in federal elections. A Standing Committee of the House of Commons will be designated to conduct this review and to report with recommendations after public hearings. It also contemplates that a referendum may be held and the question shall be whether electors favour replacing the present electoral system with the process proposed by the proportional representation committee as concurred in by the House, and that referendum, if any, must be held at the same time as the next general election.

(Motions deemed adopted, bill read the first time and printed)