Press Releases

Press Release July 12, 2023

Aryza Originate: Revolutionizing Loan Origination in Canada

Brent Reuter, CEO of North America at Aryza Aryza, a leading global provider of data-driven software solutions for credit and debt management, has launched its innovative loan origination software, Aryza Originate, in the Canadian market.  With a strong focus on improving people’s financial health, Aryza aims to revolutionize the loan application process through seamless collaboration, […]

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Press Release July 5, 2023

Neo Financial, a leading Canadian Fintech, Joins the Canadian Lenders Association

Toronto, ON — July 5, 2023 — The Canadian Lenders Association (CLA) is excited to announce that leading Canadian fintech Neo Financial has joined the Canadian Lenders Association as a new member. Neo Financial provides a modern, streamlined financial experience for businesses and consumers, with business products that include Banking as a Service and loyalty […]

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Press Release May 31, 2023

Competition Bureau Unveils Guidelines to Combat Wage-Fixing and No-Poaching

Recently, the Competition Bureau published its wage-fixing and no-poaching enforcement guidelines. The Competition Bureau’s latest enforcement guidelines tackle wage-fixing and no-poaching agreements, reinforcing its commitment to fostering competitive markets and safeguarding consumer choice. These guidelines shed light on the Bureau’s approach to enforcing the Competition Act’s subsection 45(1.1), which bans employers from colluding to fix […]

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Press Release May 31, 2023

CLA Non-Prime Roundtable Submission on Potential Carve-Outs to the Maximum Rate of Interest

The Department of Finance has sought industry feedback on the types of loans that fall outside of the government’s stated policy intent to address predatory lending in Canada. This submission aims to provide insights and recommendations that align with the government’s policy objectives while ensuring access to credit for individuals who may not meet traditional […]

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Press Release April 9, 2023

ABLE Platform Partners with CARFAX Canada for Transparent Auto Lending

ABLE Platform connects to CARFAX Canada vehicle history network to make loan origination, servicing, and collection data-driven and transparent for all auto lenders. (TORONTO, March, 2023) – ABLE Platform, a trusted provider of financial and banking software products, and CARFAX Canada, the country’s definitive source of vehicle history information, have established a long-term partnership program. […]

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Press Release March 31, 2023

Budget 2023 Overview

Toronto, ON — March 24, 2023 — On March 28, Deputy Prime Minister and Minister of Finance, Chrystia Freeland, tabled the federal government’s 2023 budget entitled “A Made-in-Canada Plan: Strong Middle Class, Affordable Economy,Healthy Future.” The NDP have already stated their support for the budget, therefore, the Liberal government is expected to maintain the confidence […]

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Press Release March 28, 2023

Lowering Maximum Allowable Rate of Interest Will Hurt Millions of Canadians, says CLA

OTTAWA – The Canadian Lenders Association (CLA) is disappointed at today’s announcement to lower the maximum allowable rate of interest to 35 per cent from a 47 per cent Annual Percentage Rate (APR). The CLA, which represents members across the lending spectrum in Canada, acknowledges making life more affordable for Canadians is a goal worth […]

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Press Release March 24, 2023

Highlights From the 2023 Ontario Budget

Highlights from the 2023 Ontario Budget that impact various sectors of the Canadian Lenders Association community including our mortgage, SMB and sustainable finance roundtables.   Toronto, ON — March 24, 2023 — The Canadian Lenders Association (CLA) is pleased to provide an overview of Ontario’s 2023 Budget, which includes significant measures aimed at fostering business […]

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Press Release March 3, 2023

Amit Sadhu of RBC Joins Canadian Lenders Association Board of Directors

Toronto, ON — March 6, 2023 — The Canadian Lenders Association (CLA) is pleased to welcome Amit Sadhu, Senior Vice President, Risk Operations at RBC, to its Board of Directors. Amit brings a wealth of experience and knowledge to the CLA. His expertise in lending and risk management will be invaluable to the CLA as […]

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Press Release March 2, 2023

Cyrielle Chiron of Peoples Group Joins Canadian Lenders Association Board of Directors

Toronto, ON — March 2, 2023 — The Canadian Lenders Association (CLA) is thrilled to announce the election of Cyrielle Chiron, Senior Vice President, Product Strategy and Innovation at Peoples Group, to its Board of Directors. Cyrielle brings a wealth of experience and expertise to the CLA. Her extensive knowledge and understanding of the industry […]

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Press Release January 11, 2023

New DE&I Report: “The Future of Work”

The CLA is thrilled to announce the publication of its latest report, created in partnership with Divercial. Based on survey results from a variety of CLA members, this report provides an analysis of the current state of DE&I in Canadian finance, and offers recommendations for companies to ensure their work environment is inclusive for all […]

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Press Release November 10, 2022

BILL 13 – AN ACT TO AMEND THE CONSUMER PROTECTION AND BUSINESS PRACTICES ACT

BILL 13 – AN ACT TO AMEND THE CONSUMER PROTECTION AND BUSINESS PRACTICES ACT Legislative amendments to the Consumer Protection and Business Practices Act were introduced in October in the House of Assembly to regulate high-cost credit lending in Newfoundland. The government recognizes that high-cost credit products may help individuals with no other options, however, […]

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Press Release October 25, 2022

Largest lending summit in Canada kicks off Nov. 16

Largest lending summit in Canada kicks off Nov. 16 Leading voices from across the wide spectrum of the lending industry in Canada will gather for the sector’s largest event of the year at the Canadian Lenders Summit in Toronto Nov. 16. Join over 450 fintech lenders, banks, credit unions, tech vendors, portfolio providers and government […]

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Press Release October 22, 2022

CLA Response on the Consultation on Lowering the Criminal Rate of Interest

With over $186 billion in consumer credit balances, the non-prime consumer segment is a significant contributor to the lifeblood of the Canadian economy; they also represent the segment of the population that most relies on sources of alternative credit, given their inability to qualify at major financial institutions who focus largely on servicing prime consumers. […]

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Press Release May 3, 2022

Zenbase, a Leader in Flexible Rent Payments, Joins the Canadian Lenders Association as a New Member

Toronto, ON, May 3, 2022 – The Canadian Lenders Association (CLA) is pleased to welcome Zenbase as a new member. Zenbased is a company committed to economic inclusion in order to foster financial empowerment for renters. Its solutions improve the financial wellness of renters while improving operational efficiency for property managers. Zenbase was founded with […]

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Press Release March 8, 2022

Clik2pay Joins the Canadian Lenders Association

Toronto, ON, March 8, 2022 – The Canadian Lenders Association (CLA) is pleased to welcome Clik2pay, a unique online payments service that facilitates bill, invoice, and online payments directly and securely from customer bank accounts. With Clik2pay, real-time payments are completed easily by text message, e-mail, checkout button, or QR code – and are processed […]

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Press Release February 28, 2022

Written Submission for the Pre-Budget Consultations in Advance of the Upcoming Federal Budget

List of Recommendations   Recommendation 1: The government should include language in Budget 2022 that accurately defines the fintech lending sector, differentiating it from payday lending.    Recommendation 2: The government should ensure that credit options remain available across the entire credit spectrum.   Recommendation 3: The government should amend the Canadian Payments Act to […]

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Press Release February 9, 2022

Peoples Group Joins the Canadian Lenders Association

Toronto, ON — February 9, 2022 — The Canadian Lenders Association (CLA) is excited to welcome new member Peoples Group, a leader in Canada’s lending space.  Through Peoples Trust, Peoples Bank, Lendful and First Inheritance, they provide residential, multi-family, and commercial mortgage products, as well as asset based and corporate lending solutions and consumer loans. […]

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Press Release January 24, 2022

Perch Joins the Canadian Lenders Association As New Approved Vendor and Mortgage Roundtable Member

TORONTO — January 24, 2022 — The Canadian Lenders Association welcomes Perch as a new approved vendor. Perch creates a customized plan that helps Canadians optimize their path to homeownership. The company also helps homeowners build wealth through real estate.  Gary Schwartz, President of the CLA said, “We are excited to work closely with Perch. Data […]

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Press Release December 15, 2021

Merchant-focused BNPL SUMMIT launches in Toronto & Chicago 

TORONTO — December 15, 2021 —  The global BNPL SUMMIT, hosted by the Canadian Lenders Association (CLA) has partnered with Retail Innovation Conference & Expo (formerly known as RetailX) to provide online and in-person content for the merchant community in Canada and US . The in-person event will be held at the McCormick Place Convention […]

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Press Release December 15, 2021

CLA Response to the Fall Fiscal and Economic Update

On December 15th, the Minister of Finance, Chrystia Freeland delivered a fiscal and economic update on the state of Canada’s economy. In the address, the Minister underscored the importance of “finishing the fight against COVID-19” and outlined some key focus areas for the Canadian economy moving forward. Lenders should pay particular attention to the monetary […]

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Press Release November 30, 2021

Canadian Lenders Association’s Approved Vendor and Member Swoop Expands to Canada in Advance of Open Banking

TORONTO — November 30, 2021 — Canadian Lenders Association’s (CLA) approved vendor and member Swoop has now expanded its services to Canada. The business funding and savings platform has been highly successful in the UK, Ireland, Australia, New Zealand, growing to a user base of 60k SMEs. Swoop has assisted its users in obtaining more […]

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Press Release November 22, 2021

Fintech Symple Loans Joins the CLA, Giving Canadians an Online Borrowing Experience with Lower Interest Rates

TORONTO — November 18, 2021 — The Canadian Lenders Association (CLA) is pleased to welcome Symple Loans – a global lending fintech company offering low-cost personal loans for Canadian consumers. Symple uses state-of-the art technologies to digitize the end-to-end borrowing experience for applicants and advanced analytics to offer credit-worthy, prime, and super-prime customers lower interest […]

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Press Release November 19, 2021

Calvert Joins the Canadian Lenders Association as a Founding Member of the Mortgage Roundtable

November 17, 2021 (Toronto)—Calvert Home Mortgage Investment Corporation joins the CLA as a new member to offer its customized lending solutions to real estate investors, mortgage brokers and homeowners across Alberta and Ontario. Calvert will be joining the CLA as a founding member of the Mortgage Roundtable. “We are excited to join the Canadian Lenders […]

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Press Release October 13, 2021

Credolab to enhance Canadian Lenders Association’s Lenders API

TORONTO — October 13, 2021 — The Canadian Lenders Association (CLA) is pleased to welcome credolab as a new approved vendor. Credolab’s embedded scoring technology provides deeper and more accurate behaviour insights to assess the creditworthiness of all Canadians, even new immigrants, fairly and unbiased. Credolab provides a novel fintech solution that leverages previously untapped behavioural […]

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Press Release October 12, 2021

RNDpoint Joins Canadian Lenders Association to Offer Digital Lenders ABLE Platform

September 16, 2021 (Toronto)—The Canadian Lenders Association (CLA) is pleased to welcome RNDpoint, a UK-based lending software provider behind the ABLE Platform, a pre-packaged solution for end-to-end loan management, servicing, and collection.  Founded in 2014, RNDpoint is a trusted software provider for banks, credit unions and alternative lenders worldwide. Its flexible all-in-one ABLE Platform makes […]

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Press Release October 6, 2021

All Ships Investors Closes First Canadian Real Estate Transaction on the Percent Platform

Toronto— September 28, 2021 — CLA Approved Vendor All Ships Investors announced a new partnership as part of its advisory to the financial technology company and alternative investment platform, Percent. This new partnership is with Indigoblue, a Canadian residential mortgage originator. It’s the most recent in a series of new partnerships between Percent and a […]

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Press Release September 30, 2021

BridgePoint Financial Joins the CLA

TORONTO — September 28, 2021 — The Canadian Lenders Association (CLA) is pleased to welcome BridgePoint Financial, a leader in Canada’s litigation finance market providing innovative and value-added funding solutions with an unwavering focus on client service since 2005. Gary Schwartz, President of the CLA, said, “BridgePoint Financial brings key expertise in the litigation finance market […]

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Press Release September 21, 2021

Bloom Launches Modern Home Equity Release Platform for 55+ Canadians

Toronto, ON, September 21, 2021 – Bloom Finance Company Ltd. (“Bloom”) announced the launch of its home equity release platform for 55+ homeowners across Ontario. Following a limited rollout in select markets through the summer, the Bloom Reverse Mortgage is now available in all Ontario markets, and will soon be available in other provinces in […]

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Press Release September 14, 2021

E-Signature Provider Syngrafii Joins CLA as Approved Vendor of Compliant e-Signature Tools

TORONTO — September 15, 2021 — The Canadian Lenders Association (CLA) is pleased to welcome Syngrafii Inc, a global pioneer in e-signatures, video signing and remote on-line notarization as an approved vendor of integrated technology tools that provide the mortgage and lending market with enhanced efficiencies, customer service and acquisition capabilities within a robust compliance […]

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