Monthly Communication Report

Registrant name:	Lisa Di Lollo
Client:	The Canadian Lenders Association
Associated registration:	926408-371419-7
Communication date:	2024-11-05
Posted date:	2024-11-14

Designated Public Office Holders who participated in the communication:	Nadia Kadri, Policy advisor Minister of Finance , Finance Canada (FIN) Francesco Sorbara, Member of Parliment House of Commons
List of Details Subject matter Detail Financial Institutions The Federal government has made a commitment to lower the allowable rate of interest. This change in policy will reduce access to credit for millions of Canadians. These Canadians make up 29% of all Canadians with credit reports and are non-prime borrowers, meaning that they would struggle to access loans from traditional financial institutions. The Canadian Lenders Association would like the government to understand how this amendment will negatively impact CLA members and the public at large.