Montreal, Quebec and Surrey, B.C., July 11 – Coast Capital Savings, Canada’s largest credit union by membership, and OnDeck Canada, a leading online lender to Canadian small businesses, today announced an innovative partnership aimed at accelerating online lending to Coast Capital small business members. Beginning this month, Coast Capital Savings (Coast Capital) small business members […]

Toronto, ON – July 10, 2019 – SharpShooter Funding and First Down Funding join the Canadian Lenders Association as general members. First Down Funding and SharpShooter, are proud to become a member of the Canadian Lenders Association and look forward to adhering to the principles for which they stand. “Membership of the CLA establishes First […]

1 in 3 Canadians may be credit invisible according to PERC Canada. Michael Turner, President of PERC Canada debuted groundbreaking research on credit invisibility and credit deserts in Canada at the Canadian Lenders Association’s Credit Invisibility Summit. Keynote Highlights: Michael Turner is the CEO and President of Policy and Economic Research Council (PERC).  He sets […]

See panel hosted by Canadian Lenders and Retail Touchpoints in Chicago @ RetailX The Changing Face of Checkout: Panel: • Gary Schwartz, President of the Canadian Lenders Association • Chris Faught, VP of Omnichannel at Affirm • Lindy Crea, Head of U.S. Partnerships at Klarna. This panel highlights ways to develop a successful relationship with […]

Hasbrouck Heights, NJ May 31, 2019 — During the Retail TouchPoints (RTP) Live! @ RetailX event, June 25-26 at Chicago’s McCormick Place, the Changing Face Of Checkout panel will highlight strategies to attract next-gen shoppers. As part of the Digital Transformation Track at RTP Live!, the panel will take place Wednesday, June 26 at 11:00am. […]

CLA partner with the The Credit Association of Greater Toronto to support the Disruption Conference on June 13th in Toronto. CLA members can register at CAGT member price. https://conference.cagt.ca/ The Credit Association of Greater Toronto (the “CAGT”)  promotes excellence and innovation in the Credit and Financial Industry and other enabling verticals to drive performance and customer experience […]

Cambridge, UK., and Toronto, Canada, May 16, 2019 –The Cambridge Centre for Alternative Finance (CCAF) and the Canadian Lenders Association (CLA) today announced a continuation in their partnership to support research into the innovative Canadian lending sector through the 2019 Americas Alternative Finance Benchmarking survey. The CCAF’s Global Benchmark continues to be the largest academic benchmarking […]

This monthly report covers any consumer and commercial Lending regulatory and policy activity on a provincial and federal level for the month of May. The report details: Jurisdiction Name of Law/Regulation Brief Summary of Changes The report is prepared monthly by the Advocacy and Regulatory Committee of the Canadian Lenders Association. https://www.canadianlenders.org/committees/ Special thanks to […]

Review Progressa’s recently published Open Banking brief: Open Banking Benefits Not being driven by a closed ecosystem/closed banking monopoly which restricts the consumer to access resources they need. In the open banking era, you’re linked into alternative sources of value. Consumers can get the help they need in a streamlined manner when going through challenging […]

This monthly report covers any consumer and commercial Lending regulatory and policy activity on a provincial and federal level for the month of March. The report details: Jurisdiction Name of Law/Regulation Brief Summary of Changes The report is prepared monthly by the Advocacy and Regulatory Committee of the Canadian Lenders Association.  Special thanks to Blake, […]

Canadian Lenders Association’s Response to The Advisory Committee to the Open Banking Review, Department of Finance Canada Canadian Lenders Association (CLA) | l’Association des prêteurs canadiens (APC) is writing this response to The Advisory Committee to the Open Banking Review representing our CLA members and their borrowers nationally. We view Open Banking standards as an essential […]

This monthly report covers any consumer and commercial Lending regulatory and policy activity on a provincial and federal level for the month of January. The report details: Jurisdiction Name of Law/Regulation Brief Summary of Changes The report is prepared monthly by the Advocacy and Regulatory Committee of the Canadian Lenders Association. https://www.canadianlenders.org/committees/ Special thanks to […]

Only 51% of Canadians have savings for an emergency. In the case of an emergency, 35% of Canadians would take out a small loan or pay for it on their credit card, and this increases to 43% of those who are living paycheque to paycheque. 96% of Canadians believe a good credit score is important, […]

TORONTO, January 7, 2019  –  The Canadian Lenders Association (CLA) in collaboration with Navigant and the Innovative Lending Platform Association begins to rollout the SMART Box™ program. SMART Box™ is a pricing disclosure model and comparison tool that will enable Canadian small businesses to better assess and compare their debt finance options. In 2018, SMART Box™ […]

Canada, the second largest market, generated $868 million. The report notes that Canada saw considerable growth, up by 159% from $335 million in 2016 to $868 million in 2017. The Canadian alternative finance market was driven primarily by alternative business funding, which accounted for 61% of the total. The Cambridge Centre for Alternative Finance (CCAF) has published their […]

By David Fry, CEO of Paays.com The Modern Traveler On the face of it, the modern traveler seems to have it all. A dizzying array of potential destinations, ultimate price transparency, and an almost infinite ability to configure a holiday to their own personal choices. A decade of advancing technology has turned the modern traveler […]

Toronto, Canada December 21, 2018 – The Canadian Lenders Association (CLA), is pleased to announce that effective December 14, 2018, Ali Pourdad, Co-Founder and CEO of Progressa, was appointed to its Advocacy and Regulatory Committee as Co-Chair. The CLA was established for businesses involved in provisioning financial services and as a platform to support growth […]

This monthly report covers any consumer and commercial Lending regulatory and policy activity on a provincial and federal level for the month of December. The report details: Jurisdiction Name of Law/Regulation Brief Summary of Changes The report is prepared monthly by the Advocacy and Regulatory Committee of the Canadian Lenders Association. https://www.canadianlenders.org/committees/ Special thanks to […]

When they’re in need of a loan, a majority of Canadians now look to online lenders as a viable alternative to traditional financial institutions, according to the State of Alternative Lending in Canada 2018 study conducted by online comparison service Smarter Loans. The research has confirmed that the industry has seen a lot more interest from consumers in […]

                           Throughout the Americas, online alternative finance markets have continued to develop at a steady pace. The industry has increasingly offered viable options for consumers and businesses to access finance, and for retail and institutional investors to invest in new asset classes. With expansive […]

Congratulations to Eva Wong and Andrew Graham for winning the LEADER OF THE YEAR leadership award at the www.canadianleaderssummit.com. Congratulations to all nominees: David Souaid – Evolocity Jeff Mitelman – Thinking Capital Eva Wong, Andrew Graham – Borrowell Salim Naran, – Savvyy AI Ali Pourdad, – Progressa Wayne Pommen, – PayBright Cato Pastoll, – Lending […]

Remarks for Senate Committee Meeting RE: S-237 Good afternoon, members of the Senate Committee on Banking, Trade and Commerce.  Thank you for inviting me to attend your Committee meeting today, as you examine Bill S-237, Senator Ringuette’s Private Member’s Bill as it relates to the “criminal interest rate” definition currently in the Criminal Code. https://sencanada.ca/en/Committees CLA […]

The Chair: Thank you all very much. It’s been very helpful. You are very informative. If you wish to provide information to us, we look forward to that as well. For our second panel, we welcome Mr. Gary Schwartz, President, Canadian Lenders Association by video conference from Toronto; and Ali Pourdad, Chief Executive Officer, Progressa. I […]

Mesdames et Messieurs les membres du Comité sénatorial permanent des banques et du commerce, je tiens à vous remercier de m’avoir invité à votre réunion alors que vous examinez le projet de loi S-237 — un projet de loi d’initiative parlementaire de la sénatrice Ringuette — sur la définition de « taux d’intérêt criminel » dans le Code criminel canadien. […]