{"id":15500,"date":"2024-02-01T19:46:09","date_gmt":"2024-02-01T19:46:09","guid":{"rendered":"https:\/\/margill.com\/?p=15500"},"modified":"2025-10-10T08:50:15","modified_gmt":"2025-10-10T12:50:15","slug":"criminal-interest-rate-canada-sets-high-stakes-for-high-rates","status":"publish","type":"post","link":"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/","title":{"rendered":"Criminal interest rate: Canada sets high stakes for high rates"},"content":{"rendered":"

As it revisits decades-old regulations on what constitutes a criminal interest rate, Canada challenges lenders to remain profitable under substantially tighter margins.<\/p>\n

These Regulations are necessary to implement amendments brought by the Budget Implementation Act, 2023, No. 1<\/em>\u00a0to\u00a0section 347 of the\u00a0Criminal Code<\/em>.<\/em>\u00a0The amendments will\u00a0lower the criminal annual rate of interest from the current 60 per cent (effective annual interest rate) to an annual percentage rate (APR) of 35 per cent.<\/strong>\u00a0They will also narrow the types of agreements and arrangements to which this criminal offence applies. Though not yet in force, the Regulations aim to combat predatory lending practices and reform Canada\u2019s framework for consumer financial protection and regulation.<\/p>\n

To read the whole story by Guillaume Talbot-Lachance,\u00a0Matthew Connors and\u00a0Kaliopi Dimitrakoudis, follow this link<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

As it revisits decades-old regulations on what constitutes a criminal interest rate, Canada challenges lenders to remain profitable under substantially tighter margins. These Regulations are necessary to implement amendments brought by the Budget Implementation Act, 2023, No. 1\u00a0to\u00a0section 347 of the\u00a0Criminal Code.\u00a0The amendments will\u00a0lower the criminal annual rate of interest from the current 60 per […]<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[421],"tags":[],"class_list":["post-15500","post","type-post","status-publish","format-standard","hentry","category-margill-and-industry-new"],"yoast_head":"\r\nCriminal interest rate: Canada sets high stakes for high rates - Margill<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Criminal interest rate: Canada sets high stakes for high rates - Margill\" \/>\r\n<meta property=\"og:description\" content=\"As it revisits decades-old regulations on what constitutes a criminal interest rate, Canada challenges lenders to remain profitable under substantially tighter margins. These Regulations are necessary to implement amendments brought by the Budget Implementation Act, 2023, No. 1\u00a0to\u00a0section 347 of the\u00a0Criminal Code.\u00a0The amendments will\u00a0lower the criminal annual rate of interest from the current 60 per […]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Margill\" \/>\r\n<meta property=\"article:published_time\" content=\"2024-02-01T19:46:09+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2025-10-10T12:50:15+00:00\" \/>\r\n<meta name=\"author\" content=\"Kim Ouellette\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kim Ouellette\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/\"},\"author\":{\"name\":\"Kim Ouellette\",\"@id\":\"https:\/\/margill.com\/en\/#\/schema\/person\/fb5fb76af498fd0e71cd304825c2c777\"},\"headline\":\"Criminal interest rate: Canada sets high stakes for high rates\",\"datePublished\":\"2024-02-01T19:46:09+00:00\",\"dateModified\":\"2025-10-10T12:50:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/\"},\"wordCount\":136,\"articleSection\":[\"Margill and Industry New\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/\",\"url\":\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/\",\"name\":\"Criminal interest rate: Canada sets high stakes for high rates - Margill\",\"isPartOf\":{\"@id\":\"https:\/\/margill.com\/en\/#website\"},\"datePublished\":\"2024-02-01T19:46:09+00:00\",\"dateModified\":\"2025-10-10T12:50:15+00:00\",\"author\":{\"@id\":\"https:\/\/margill.com\/en\/#\/schema\/person\/fb5fb76af498fd0e71cd304825c2c777\"},\"breadcrumb\":{\"@id\":\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/margill.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Criminal interest rate: Canada sets high stakes for high rates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/margill.com\/en\/#website\",\"url\":\"https:\/\/margill.com\/en\/\",\"name\":\"Margill\",\"description\":\"Loan Servicing Solutions \/ Interest Calculators\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/margill.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/margill.com\/en\/#\/schema\/person\/fb5fb76af498fd0e71cd304825c2c777\",\"name\":\"Kim Ouellette\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Criminal interest rate: Canada sets high stakes for high rates - Margill","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/margill.com\/en\/criminal-interest-rate-canada-sets-high-stakes-for-high-rates\/","og_locale":"en_US","og_type":"article","og_title":"Criminal interest rate: Canada sets high stakes for high rates - Margill","og_description":"As it revisits decades-old regulations on what constitutes a criminal interest rate, Canada challenges lenders to remain profitable under substantially tighter margins. 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