Consumer Protection

Man. Reg. 50/2010, the regulation setting the maximum cost of credit for a payday loan under the Consumer Protection Act (Manitoba), came into force on October 18, 2010. Pursuant to section 164 (20 of the Consumer Protection Act (MB), the Board was required to conduct a review of issues related to payday loans within three years after Man Reg. 50/2010 came into force. The Board submitted that report to the Government on September 23, 2013.
Pursuant to section 164.1(2) of the Consumer Protection Act (MB), every third year, the Minister responsible must review the effectiveness of Part XVIII of that Act and the related regulation and decide:
 
a) Whether to require a further review by the Board in accordance with Section 164 of the Act; and
b) Whether to recommend changes to other payday loans provisions o ft he Act or the regulations under this Part.