Legislative proposals for criminal interest rates under the Criminal Code

Recently, Bill C-69 introduced a number of changes to the criminal interest rate provisions.

Firstly, Option consommateurs approves the repeal of section 347(7) of the Criminal Code, which required the consent of the Attorney General before a charge could be laid. Secondly, we also welcome the amendments that include the offering and advertising of an offer to enter into an agreement with an interest rate exceeding the criminal rate as an offence under section 347(1) of the Criminal Code.
As part of the ongoing consultations, Option consommateurs is submitting its comments on the legislative proposals relating to the criminal interest rate under the Criminal Code.