Canada’s financial consumer watchdog is warning lenders not to take advantage of mortgage holders who are facing severe financial stress as interest rates and the cost of living rise. In guidelines released Wednesday, the Financial Consumer Agency of Canada said financial institutions need to help provide support to consumers who are facing rising mortgage payments….
Watchdog Unveils Guidelines to Support Mortgage-Holders Under Financial Stress
Nearly 40% of Canadians Borrowing Money to Cover Daily Expenses: Federal Research
Nearly 40 percent of Canadians are borrowing money to cover the rising costs of daily expenses like groceries and rent, says new federal research. “The percentage of Canadians who borrow money to cover daily expenses increased from 26% in 2020 to 38% in September 2022,” wrote the Financial Consumer Agency of Canada in a report published…
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