Alternative Financial Services: High-Cost Credit Consultation Paper

Regulation Number(s):
Instrument Type:
Bill or Act:
Consumer Protection Act, 2002
Summary of Proposal:
The Government of Ontario is considering establishing new protections for users of alternative financial services (AFS).

AFS are high-cost financial services provided outside of traditional financial institutions like banks and credit unions. Common AFS offerings include payday loans, instalment loans, lines of credit, and auto title loans. Ontario currently regulates payday loans.

This consultation paper focuses on draft proposals and options intended to strengthen protections for borrowers and improve the regulation of high-cost credit agreements, other than payday loans.

This paper is in addition to Ontario's comprehensive review of the Consumer Protection Act, 2002 (CPA), the law governing many personal and household transactions by consumers.

We welcome your responses to consultation questions and any additional comments or suggestions you wish to offer. Please provide examples or evidence to support your suggestions where possible.

You may download this paper and submit your completed responses by email to or by mail to the address provided.
Further Information:
Proposal Number:
Posting Date:
January 29, 2021
Comments Due Date:
March 30, 2021
Contact Address:
Alternative Financial Services Consultation
Consumer Policy and Liaison Branch
Ministry of Government and Consumer Services
56 Wellesley Street West - 6th Floor,
Toronto, ON, M7A 1C1