Vendor Certification

A vendor seeking certification must provide products or services relevant to Canadian lending and demonstrate that its activities align with the CLA’s commitment to responsible finance, innovation, financial inclusion and consumer protection.

Certification applies to the vendor and the services reviewed by the CLA. It does not certify every product, employee or subcontractor, or replace a lender’s own procurement, regulatory or security assessment.

Vendors must comply with the laws and professional obligations applicable to their activities and the jurisdictions in which they operate. Depending on the service, these may include privacy, consumer protection, consumer reporting, marketing, accessibility, anti-money laundering, employment and other requirements.

Vendors must identify the obligations that apply to their services, maintain appropriate policies and oversight, and promptly address material compliance deficiencies.

Vendors that handle personal, financial or commercially sensitive information must collect, access, use, retain and disclose it only for authorized purposes. They must apply appropriate consent, contractual and retention practices, limit access to those who need it, and support lenders in meeting their privacy obligations.

Information supplied to lenders, credit bureaus or other partners must be handled accurately and in accordance with applicable permissions and law.

Vendors must maintain security controls proportionate to the sensitivity of the information they handle and the importance of their services. These controls should address access management, staff training, monitoring, incident response, backup and recovery, and oversight of relevant subcontractors.

Vendors should test and improve their controls regularly and notify affected clients of material incidents in accordance with their contracts and applicable law.

Vendors must describe their products, capabilities, fees and limitations truthfully. They must take reasonable steps to ensure the quality of the data, models, reports and other outputs they provide, explain material limitations to clients, and offer a workable process for correcting errors.

Vendors whose services affect borrowers must support fair treatment and avoid deceptive, discriminatory or coercive practices.

Vendors should help clients prevent identity misuse, fraud and financial crime where relevant to their services.

New technologies, including automated decision tools, should be subject to appropriate testing, oversight and controls to protect accuracy, privacy and fair outcomes.

Vendors must disclose and manage material conflicts affecting their work with CLA members. No vendor may collude with another company on pricing or otherwise engage in conduct that restricts competition, whether within or outside CLA activities.

Vendors must not use CLA participation to exchange sensitive commercial information or coordinate pricing, capacity, customers or other business decisions. They must protect confidential information obtained through CLA activities.

Applicants may be asked to provide a description of their services, applicable registrations or credentials, relevant policies, references and evidence supporting their compliance with these standards. The CLA may request clarification, conduct periodic reviews, or consider credible complaints and material incidents.

Approved Vendors must keep information supplied to the CLA current and cooperate with reasonable requests related to their certification.

The CLA may approve, condition, suspend or withdraw Vendor Certification if a vendor no longer meets these standards or fails to address a material concern.

Every Approved Vendor must display the CLA Approved Vendor mark, provided at the bottom of this page, on its company website. See “The Approved Vendor mark” below for usage requirements.

Use of any other CLA designation or logo is subject to CLA authorization and brand guidelines. Vendors must not present certification as a regulatory licence, an independent security audit, a guarantee of performance or an endorsement of a particular product. The CLA may update these standards as industry practices and legal requirements evolve.