The Canadian Lenders Association Outlines National Advocacy & Regulatory Principles
Toronto, Canada, June 18, 2018 – Today, the Canadian Lenders Association released a set of principles intended to help guide our advocacy and regulatory outreach and collaboration both provincially and nationally with the aim of improving transparency, provide a balanced regulatory frameworks, and an open marketplace.
“The Canadian Lenders Association represents the all lender stakeholders. We believe that these advocacy and regulatory principles will help establish a uniform standard for policy engagement across Canada,” said CLA’s President Gary Schwartz.
- We support transparency throughout the Canadian marketplace and will support changes to legislative and regulatory frameworks that encourage and enhance transparency for borrowers.
- We advocate for balanced regulatory frameworks that meet the needs of borrowers, as well as provide stable, strong and consistent environments for businesses of all sizes to successfully operate in Canada by minimizing the administrative and compliance costs for lenders.
- We support an open marketplace – one which encourages innovation, the use of technology and healthy competition to advance the needs of borrowers and provide products and services to meet 21st century needs.
Members of the CLA Advocacy and Regulatory Committee agree to build these key messages into messaging shared with government and other decision makers to promote a cohesive and united approach to major regulatory issues in the Canadian marketplace that impact or may impact – whether directly or indirectly – the business operations of CLA members.
About the Canadian Lenders Association
The Canadian Lenders Association (CLA) supports the growth of companies in the Canadian market that are in the business of lending, or providing other means of credit, to small businesses and individuals by non-conventional or innovative means to exchange ideas and explore ways of improving the sector; encourage principled and professional practices by innovative lenders; educate the public at large about innovative lending; encourage individual potential borrowers to be informed about the appropriateness of innovative lending to the borrowers’ circumstance; and to advocate on behalf of, and represent the interests of innovative lenders. www.canadianlenders.org
Gary Schwartz for the CLA