Overview of Consumer Protection in Canada Series – Credit reporting/notice of denial/adverse action

Most provinces have credit reporting legislation that requires a lender to obtain a consumer’s consent before obtaining a credit report, and establishes an obligation on users of a consumer’s credit information to advise the consumer of an adverse action taken against the consumer, based on the information contained in a credit report. Notice of denial or adverse action must be provided to consumers in some instances. The requirements for notice differ in the provincial credit reporting legislation.

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