Mr. Chair, in 2010, we introduced new consumer protection rules. We mandated a minimum 21-day interest-free grace period on all credit card purchases. If a cardholder pays less than the full balance owing, card issuers must allocate payments to the balance with the highest interest rate first or distribute the payments based on the relative proportion of each. In addition, the cardholder's consent is required for credit limit increases.
In the House of Commons on May 14th, 2014. See this statement in context.