CAQ eyes credit-contract bill to fight against abuse

Justice minister says he was inspired by Liberal MNA'S bill tabled last year

Justice Minister Simon QUEBEC Jolin-barrette said Wednesday he plans to table a bill within a year to fight against abusive credit contracts like credit cards and mortgage loans.

He made the announcement during an exchange with Liberal MNA Michelle Setlakwe as part of the study of the budgetary appropriations for consumer protections at the Ministry of Justice.

Jolin-barrette said he was inspired by Bill 199, An Act to Better Protect Consumers Against Abusive Credit Contracts, tabled last year by Liberal MNA Marwah Rizqy.

Rizqy's bill — which was never tabled by the government — proposes to regulate the interest rates on different loans, as is done in France, to protect the borrower against excessive rates.

The consumer whose credit contract is abusive could claim its nullity or demand reimbursement of credit costs, while the merchant who agrees to an abusive credit contract would be liable to a fine.

In parliamentary committee, Setlakwe asked Jolin-barrette to act, arguing that Quebecers are currently being suffocated by the rising cost of living.

“Everything costs more. The proportion of interest becomes very important. There are Quebecers who find themselves trapped in a spiral of debt, taking out loans or credit whose interest rates make it almost impossible to pay the balance,” she said.

“Last year, the minister was open,” she stressed. “Fourteen months later, can the minister give us an update? Does he plan to put forward the measures proposed in Bill 199?”

Jolin-barrette responded that he found the question “entirely relevant,” especially in the context of inflation. He said he found “many

Without revealing state secrets, I think it is important to really adequately limit access to credit, because there is abuse.

elements” in Bill 199 “inspiring.”

“It's something we've been working on for a while now. These are legislative measures that we will most likely have the opportunity to study together in the medium or short term,” he said.

“Without revealing state secrets, I think it is important to really adequately limit access to credit, because there is abuse.”

JACQUES BOISSINOT/THE CANADIAN PRESS FILES Quebec Justice Minister Simon Jolin-barrette says the government has been working on legislation to protect consumers “for a while now.”