Canada's consumer finance laws have always been disjointed, with different provinces having different rules as to what information must be disclosed to a consumer, as well as how to calculate the applicable interest rate for certain agreements.
New Brunswick's New Cost of Credit Disclosure Act
The Canadian Province of New Brunswick recently brought into force a new Cost of Credit Disclosure Act and New Brunswick Regulation 2010-104 under the Cost of Credit Disclosure Act. The provisions of the Act and the Regulation change significantly the disclosure requirements applicable in New Brunswick.
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