Credit Card Fairness Act

An Act to amend the Bank Act, the Trust and Loan Companies Act, the Insurance Companies Act and the Cooperative Credit Associations Act (credit cards)

Sponsor

Rachael Harder  Conservative

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

Status

Second reading (House), as of Nov. 2, 2018

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Summary

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

This enactment amends the Bank Act, the Trust and Loan Companies Act, the Insurance Companies Act and the Cooperative Credit Associations Act to implement a number of measures respecting credit card accounts.

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 Card Fairness ActRoutine Proceedings

October 31st, 2018 / 4:05 p.m.
See context

Conservative

Rachael Harder Conservative Lethbridge, AB

moved for leave to introduce Bill C-419, An Act to amend the Bank Act, the Trust and Loan Companies Act, the Insurance Companies Act and the Cooperative Credit Associations Act (credit cards).

Mr. Speaker, it is a tremendous honour for me to present my private member's bill, known as the credit card fairness act, to the House of Commons today.

Since being elected in 2015, I have talked with thousands of Canadians from coast to coast, in every corner of the country. They are telling me that they are concerned about fairness and transparency when it comes to credit card use, which takes place every day. We live in a society where it is nearly impossible to function without one. We need a credit card to book flights, hotel rooms, car rentals, shop online, etc. Unfortunately, consumers are not being treated with the respect they deserve.

Due to rising interest rates and the fact that life is becoming more and more expensive, Canadians are struggling to make ends meet and they are falling further and further behind. The credit card fairness act calls for seven specific changes that would advocate on behalf of Canadian consumers. By increasing fairness and transparency, the reforms outlined in my bill would empower credit card holders to make informed decisions, pay off their debt quicker and achieve greater financial freedom.

I want to thank Canadians for giving me the opportunity to advocate on their behalf. It is my hope that all members in the House will join me in this important advocacy work.

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