Cost of Credit Disclosure and Payday Loans
Decisions
12 AUGUST 2022
The Applicant’s request to extend the filing deadline for its Statement of Position was granted in part.
7 JULY 2022
The Respondents’ request to adjourn the merits hearing to allow the parties to continue their settlement discussions was granted.
29 SEPTEMBER 2021
The Tribunal approved a settlement agreement in an enforcement proceeding. The Respondents had brokered mortgages without holding a licence, operated as a mortgage brokerage without a licence, represented borrowers and private investors in the same mortgage transaction, traded in real estate without a licence, acted as a credit broker without being registered, and made untrue statements.
19 OCTOBER 2020
An enforcement proceeding was terminated by the respondent providing an undertaking to the Tribunal to refrain from conducting, in New Brunswick, any or all activities regulated by the Direct Sellers Act, and by the Cost of Credit Disclosure and Payday Loans Act.
19 MARCH 2020
The hearing of an application for an interim order in an enforcement proceeding was adjourned sine die due to the COVID-19 pandemic. The respondent had also provided a broad undertaking not to conduct, in New Brunswick, any or all activities regulated by the Direct Sellers Act and the Cost of Credit Disclosure and Payday Loans Act.
9 MARCH 2020
The hearing of an application for an interim order was adjourned as the respondent had just retained legal counsel who needed time to review the file. The respondent undertook to refrain from carrying on business in New Brunswick until the application had been decided.
25 FEBRUARY 2020
A request to postpone the hearing was denied because the respondent had provided no valid reason to postpone the hearing.
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