Act
The Consumer Reporting Act - Proposals Under Consideration for Providing Access to Security Freezes, Credit Scores and Reports
Regulation Number(s):
Instrument Type:
Act
Bill or Act:
Consumer Reporting Act
Summary of Decision:
On December 6, 2023, the Consumer Reporting Act (CRA) was amended as part of the Better for Consumers, Better for Businesses Act, 2023 to provide Ontarians with additional tools to assist them in:
• Better protecting their consumer or credit scores,
• Ensuring the accuracy of information that consumer reporting agencies hold, and
• Reducing the harms resulting from identity theft.
Certain amendments to the CRA came into force when the Better for Consumers, Better for Businesses Act, 2023 received Royal Assent, including the amended inspection provisions and the authority of the Registrar to establish written policies regarding the interpretation, administration, and enforcement of the CRA.
Other sections are not in effect and come into force upon proclamation. These include requirements pertaining to security freezes, consumer score disclosures and explanatory statements. Amendments to the regulations are required to support the implementation of the unproclaimed legislative amendments to the CRA.
• Better protecting their consumer or credit scores,
• Ensuring the accuracy of information that consumer reporting agencies hold, and
• Reducing the harms resulting from identity theft.
Certain amendments to the CRA came into force when the Better for Consumers, Better for Businesses Act, 2023 received Royal Assent, including the amended inspection provisions and the authority of the Registrar to establish written policies regarding the interpretation, administration, and enforcement of the CRA.
Other sections are not in effect and come into force upon proclamation. These include requirements pertaining to security freezes, consumer score disclosures and explanatory statements. Amendments to the regulations are required to support the implementation of the unproclaimed legislative amendments to the CRA.
Analysis of Regulatory Impact:
N/A
Further Information:
Consultation Paper
Consumer Reporting Act, R.S.O. 1990, c. C.33 (ontario.ca)
Better for Consumers, Better for Businesses Act, 2023, S.O. 2023, c. 23 - Bill 142 (ontario.ca)
Proposal Number:
21-MGCS003
Posting Date:
February 10, 2021
Summary of Proposal:
The Ministry of Government and Consumer Services is considering changes that could help improve and clarify the Consumer Reporting Act, so that consumers can benefit from additional tools and protections, and consumer reporting agencies (often called credit bureaus) are able to implement the rules effectively.
The consultation paper explains proposals under consideration related to the following topics:
Consumer Reports and Scores
1. Options for Disclosing a Consumer Report or Current Score
2. Providing a Current Score to Consumers
3. Disclosing Past Scores
4. Contact Information
Additional Tools for Consumers
1. Explanatory Statements
2. Right of Action
Security Freezes
1. Access during a Security Freeze
2. Placing, Suspending or Terminating a Security Freeze
Enforcement
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 consumerpolicy@ontario.ca or by mail to the address provided.
The consultation paper explains proposals under consideration related to the following topics:
Consumer Reports and Scores
1. Options for Disclosing a Consumer Report or Current Score
2. Providing a Current Score to Consumers
3. Disclosing Past Scores
4. Contact Information
Additional Tools for Consumers
1. Explanatory Statements
2. Right of Action
Security Freezes
1. Access during a Security Freeze
2. Placing, Suspending or Terminating a Security Freeze
Enforcement
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 consumerpolicy@ontario.ca or by mail to the address provided.
Contact Address:
ATTN: Consumer Reporting Act Consultation
Consumer Policy and Liaison Branch
Ministry of Government and Consumer Services
56 Wellesley Street West - 6th Floor
Toronto, ON, M7A 1C1
Consumer Policy and Liaison Branch
Ministry of Government and Consumer Services
56 Wellesley Street West - 6th Floor
Toronto, ON, M7A 1C1
Royal Assent Date:
December 6, 2023
Decision:
Approved