Open Banking Consultation: Could Consumer-Directed Banking Become a Mortgage Fraud Tool?
Canada’s proposed consumer-driven banking framework, often called open banking, is usually described as a way to give consumers more control over their financial information. It could also become an important mortgage fraud-prevention tool. The federal government’s proposed Consumer-Driven Banking Regulations would create a consent-based framework allowing consumers and businesses to direct participating financial institutions to […]
Open Banking and Mortgages: What Canada’s Proposed Rules Could Mean for Borrowers and Brokers
Canada is moving toward a consumer-driven banking framework, often called open banking, that could change how borrowers share financial information when applying for, renewing, or refinancing a mortgage. The proposed Consumer-Driven Banking Regulations are not yet in force. As of September 14, 2026, the consultation period has closed, but final regulations have not been published. […]
The Case for a Single AML Agent Model in Mortgage Transactions
Canada’s anti-money laundering and anti-terrorist financing regime should be rigorous, effective, and proportionate. Mortgage brokers, lenders, and administrators have an important role in identifying suspicious activity, detecting illicit funds, and protecting the integrity of the financial system. But the mortgage industry needs a more coordinated way to meet those obligations. A practical solution would be […]
CAPL Submission on Ontario’s MBLAA Modernization Consultation
The Canadian Association of Private Lenders (“CAPL”) has submitted comments to the Ontario Ministry of Finance in response to its July 2026 consultation paper on proposed amendments to the Mortgage Brokerages, Lenders and Administrators Act, 2006 (“MBLAA”). The consultation considers measures intended to modernize Ontario’s mortgage-regulatory framework, strengthen consumer protection and reduce unnecessary administrative burden. […]
Mortgage Auto Renewal: Ontario Court Certifies Class Action Against Scotia
By Aron Hochhauser, Fulton & Company Law Corporation A recent Ontario Superior Court of Justice decision highlights potential consumer-law and lending-law risks arising from automatic mortgage renewal practices. In Abeywickrama v. The Bank of Nova Scotia et al, 2026 ONSC 3262, released June 4, 2026, the Court certified a proposed class action against The Bank […]
When a Private Mortgage Gives a Family Member Access to the Homeowner’s Equity
A recent British Columbia decision illustrates a difficult truth about private mortgage financing: a homeowner may understand that their home secures a mortgage, receive independent legal advice, and authorize advances, yet still suffer serious loss where a family member obtains practical access to the loan proceeds. The case involved an elderly homeowner whose home secured […]
FINTRAC Mortgage Sector Compliance Checklists
FINTRAC’s mortgage sector guidance makes clear that anti-money laundering and anti-terrorist financing compliance obligations are tied to the specific role an entity plays in a mortgage transaction. Where a mortgage broker, lender, and mortgage administrator are each involved in the same file, each may have separate and independent obligations under the Proceeds of Crime (Money […]
CAPL Highlights the Need for Stronger Mortgage Oversight in B.C
The Canadian Association of Private Lenders (CAPL) is contributing an important industry perspective to the discussion around British Columbia’s upcoming Mortgage Services Act, underscoring the need for a mortgage regulatory framework that is both effective and responsive to evolving fraud risks. In a recent Business in Vancouver article examining B.C.’s mortgage industry overhaul, CAPL was […]
British Columbia Introduces Credit Freeze Protections to Help Prevent Fraud
New amendments will give consumers stronger tools to help prevent fraud and improve control over access to their credit files. The Canadian Association of Private Lenders (CAPL) welcomes British Columbia’s introduction of credit freeze protections for consumers through the Business Practices and Consumer Protection Amendment Act (No. 2) (Bill 28), which received Royal Assent on […]
Why a Mortgage Broker Cannot Directly Hire a Licensed Assistant in British Columbia and What to Do Instead
In British Columbia, mortgage brokers often want to build more efficient practices by adding licensed support. That may be true whether the broker operates personally or through a personal mortgage corporation (“PMC”). The commercial goal is straightforward. If a licensed assistant can help manage files, support clients, and assist with mortgage work, the lead broker […]