Modernizing the Credit Unions and Caisses Populaires Act
Ontario Regulation 237/09
Ontario Regulation 238/09
Regulation - LGIC
Bill or Act:
Credit Unions and Caisses Populaires Act 1994
Summary of Decision:
The new General Regulation under the Credit Unions and Caisses Populaires Act, 1994 was filed on June 19, 2009 and came into force on October 1, 2009.
February 18, 2009
Summary of Proposal:
The draft regulations propose to do the following: strengthen governance in the sector; enhance the ability of credit unions to manage risk; streamline regulatory requirements while promoting effective regulatory oversight; create flexibility to pursue growth and innovation; and make sure updated consumer protection standards are in place.
Deposit-Taking Institutions Unit Ministry of Finance 95 Grosvenor St. 4th Floor Toronto, ON M7A 1Z1 Telephone: 416-326-9217/Fax: 416-325-1187
October 1, 2009