Financial Rights Awareness Coalition (FRAC)

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FRAC is dedicated to promoting financial literacy and consumer rights in Canada. Our mandate is to empower individuals with the knowledge to make informed financial decisions. We have successfully conducted numerous awareness campaigns and educational programs, reaching thousands of Canadians.

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Know Your Rights: Protect Your Credit Under the Consumer Reporting Act (CRA)

Free consumer education on credit report access, consent, and notice requirements

Many people are taught how to build credit, but very few are taught their legal rights before a credit report can even be accessed or updated.
This page explains when lenders must give notice, what valid consent looks like, and when consumer reports are legally restricted.

This information is free to share with individuals, community groups, and nonprofit organizations.

Why This Matters

Most financial education focuses on:

  • Paying bills on time

  • Managing debt

  • Improving credit scores

But fewer people know that credit reports cannot be accessed or updated unless strict legal requirements are met first.

Understanding notice and consent rules can help prevent:

  • Unauthorized credit checks

  • Improper reporting

  • Damage to credit files without legal basis

This is a critical but under-taught area of consumer protection.

Your Rights Before a Credit Report Is Accessed

Under the Consumer Reporting Act (CRA):

✔ Notice of Intent Is Required

Before a lender accesses your consumer report to extend credit, notice of intent must be provided.
(Sections 10(2) and 10(3))

✔ Notice of Disclosure Is Required

Before personal information is disclosed to a consumer reporting agency or another creditor, notice must be given.
(Section 10(5))

How Notice Must Be Given

Notices are not optional and must meet specific legal standards:

  • Must be bold or underlined

  • Font size must be no smaller than 10

  • Must be provided at the time of credit application

  • Must be delivered:

    • Personally, or

    • By ordinary mail, registered mail, or

    • Any method that provides proof of receipt

(Sections 10(6) and 20(1))

If these requirements are not met, access to the consumer report may be legally restricted.

When Consumer Reports Are Restricted

A consumer report cannot be accessed or updated if legal conditions are not satisfied.

❌ No Permissible Purpose

If there is no documented permissible purpose under
Sections 8(1)(d)(i)–(vi), the report is restricted.
(Sections 8(1) and 8(2))

❌ No Valid Notice

If proper notice under Section 10(2) was not given, the consumer report cannot be accessed.
(Section 11(3))

❌ No Prior Permissible Purpose

A consumer report cannot be updated unless a previous permissible purpose existed.

These rules apply every time a report is accessed or updated, not just during the first application.

Quick Consumer Checklist

Before a lender accesses or updates a credit report:

  • ⬜ Was notice of intent provided?

  • ⬜ Was the notice bold or underlined and at least size 10?

  • ⬜ Was it delivered in a way that proves receipt?

  • ⬜ Does a valid permissible purpose exist?

If any answer is no, the credit report may be legally restricted.

For Community Organizations and Nonprofits

This information is free to share and may be used in:

  • Financial literacy programs

  • Newcomer and settlement services

  • Youth and student education programs

  • Consumer protection workshops

Free resources available:

  • Printable one-page toolkit (PDF)

  • Newsletter and email-ready content

  • Short workshop or webinar presentations

Organizations may distribute these materials at no cost.

Want These Resources for Your Community?

Free materials and presentations are available for:

  • Community centers

  • Nonprofits

  • Faith-based organizations

  • Student groups

  • Housing and employment programs

Request free materials or a short educational session:
info@financialrightscoalition.org

Important Note

This information is provided for educational purposes and does not constitute legal advice.
Consumers may wish to seek legal guidance for individual situations.

Knowledge is protection. Understanding notice and consent rules helps consumers defend their credit before damage occurs.

Credit Check: What You Must Know

 A credit check must be BOLD or underlined, in a font size no less than 10 points.

R.I.S.K – Reform In Systems & Knowledge

Financial institutions are required to provide information about the nature, purpose, and consequences of the collection, use, and disclosure of personal information at the time of decision, enabling consumers to make informed choices, including reasonably foreseeable risks such as those caused by bad actors. These may include financial loss, reputational damage, humiliation, negative effects on credit records, and identity theft. This transparency ensures that consumers can make informed decisions and avoid deceptive practices.

This directive is supported by the Guidelines for Obtaining Meaningful Consent, which require organizations to clearly inform individuals of (a) the types of personal information being collected, (b) the parties with whom the personal information is shared, (c) the purposes for which the personal information is collected, used, or disclosed, and (d) the risks of harm and other potential consequences at the time of accessing services.

T.E.C.H – Transparency, Encryption, Consent, Honesty

Financial institutions have shifted to the digital era of e-commerce and are moving away from paper-based applications. However, unlike paper-based processes, financial institutions must now implement adequate technological safeguards to protect electronic consent, particularly when it is collected through checkboxes as a form of electronic signature.

Financial institutions must demonstrate that they have implemented technological safeguards, specifically secure electronic signature technology or digital signature certificates, ensuring that the electronic signature (a) is unique to the individual using it, (b) is under the sole control of the individual incorporating, attaching, or associating their electronic signature with an electronic document, (c) can be used to identify the individual, and (d) is linked to the document in a manner that allows detection of any modifications after its incorporation.

Financial institutions must also demonstrate compliance with the Secure Electronic Signature Regulations, including digitally signing documents with valid certificates, applying recognized cryptographic hash functions to generate and encrypt message digests using private keys, attaching or embedding encrypted digests into documents, transmitting documents together with verifiable certificates, and performing proper verification upon receipt, including certificate validation, as required under Sections 2 and 3 of the Regulations.

Financial institutions cannot without full compliance benefit from the presumptions under Section 5 of the Secure Electronic Signature Regulations; the only acceptable alternative is the use of a valid digital signature certificate.

Latest Insights

09/12/2025
Mogo Finance Technology Inc.

POLICY AMENDMENT

Successfully led recommendations to Mogo Finance Technology Inc., through the Office of the Privacy Commissioner of Canada, to remove hard inquiry information from the informational pop-up — which was only triggered when a user clicked the information icon — and relocate it to a more visible, unobstructed section of the interface. This change will help consumers make more informed decisions when assessing services.
09/12/2025
Equifax Canada

POLICY AMENDMENT

Successfully led privacy policy revisions at Equifax through the Office of the Privacy Commissioner of Canada, ensuring the inclusion of consent processes. Also prompted Equifax to clarify that they neither store nor process consent forms, helping consumers better understand how their personal information is handled.
09/12/2025
Home Trust

POLICY AMENDMENT

Successfully led credit application and privacy policy revision recommendations at Home Trust Canada through the Office of the Privacy Commissioner of Canada, for the inclusion of risk, harm, and consequences awareness information related to the collection, use, and disclosure of personal information. These revisions help support informed decision-making during product or service selection.
09/12/2025
Capital One Bank

POLICY AMENDMENT

Successfully led practices and policy revisions at Capital One through the Office of the Privacy Commissioner of Canada, requiring the company to retain the check box users would select when applying for a credit product online.
09/12/2025
Mogo Finance Technology Inc.

POLICY AMENDMENT

Successfully led Mogo Finance Technology Inc. to amend its policies and practices regarding access requests, ensuring more thorough searches for personal information are completed. This will help consumers gain access to personal information with due diligence and timely responses from the organization.
09/12/2025
Metropolitan Credit Adjusters Ltd.

POLICY AMENDMENT

Successfully led Metropolitan Credit Adjusters Ltd. in revising their policy to eliminate fees for accessing personal information. This change allows consumers to obtain their information at no cost, helping the company reduce complaints related to personal information requests.
09/12/2025
Equifax Canada

POLICY AMENDMENT

Successfully led privacy policy revisions at Equifax through the Office of the Privacy Commissioner of Canada, ensuring the inclusion of consent processes. Also prompted Equifax to clarify that they neither store nor process consent forms, helping consumers better understand how their personal information is handled.
09/12/2025
Capital One

POLICY AMENDMENT

Successfully led practices and policy revisions at Capital One through the Office of the Privacy Commissioner of Canada, requiring the company to retain personal information to allow access and recourse.
09/12/2025
Capital One

POLICY AMENDMENT

Successfully led practices and policy revisions at Capital One through the Office of the Privacy Commissioner of Canada, requiring the company to retain personal information to allow access and recourse.
09/12/2025
Capital One

POLICY AMENDMENT

Successfully led consumer service agreement and privacy policy revision recommendations at Koodo Mobile through the Office of the Privacy Commissioner of Canada, for the inclusion of risk, harm, and awareness information associated with the collection, use, and disclosure of personal information. These revisions support informed decision-making during product or service selection.
09/12/2025
Capital One

POLICY AMENDMENT

Successfully led privacy policy revision recommendations at Capital One through the Office of the Privacy Commissioner of Canada for the inclusion of risk, harm, and consequences information related to the collection, use, and disclosure of personal information. These revisions aim to support informed decision-making during product or service selection.
09/12/2025
Neo Financial

POLICY AMENDMENT

Successfully led Neo Financial to reverse charges related to fraudulent activity where consumers unknowingly participated. However, Neo Financial failed to include in their privacy policy that sharing personal information could result in financial loss. Neo Financial agreed to reverse the charges based on the argument presented.
09/12/2025
Home Trust

POLICY AMENDMENT

Successfully led credit application and privacy policy revision recommendations at Home Trust Canada through the Office of the Privacy Commissioner of Canada, for the inclusion of risk, harm, and consequences awareness information related to the collection, use, and disclosure of personal information. These revisions help support informed decision-making during product or service selection.
09/12/2025
Home Trust

POLICY AMENDMENT

Successfully led credit application and privacy policy revision recommendations at Easy Financial through the Office of the Privacy Commissioner of Canada, for the inclusion of risk, harm, and consequences information related to the collection, use, and disclosure of personal information. These revisions help support informed decision-making during product or service selection.
09/12/2025
Home Trust

POLICY AMENDMENT

Successfully led credit application and privacy policy revision amendments at Easy Financial through the Office of the Privacy Commissioner of Canada, to emphasize provisions allowing consumers to opt out of secondary purposes such as marketing and promotions associated with the collection, use, and disclosure of personal information. These revisions support informed decision-making during product or service selection.
09/12/2025
TransUnion Canada

POLICY AMENDMENT

Successfully led TransUnion, through the Office of the Privacy Commissioner, to agree to conduct further training and monitoring of their Complaint Management team. TransUnion apologized for any frustration or inconvenience caused to the complainant. This initiative aims to improve consumer outcomes by ensuring better responses, acknowledgment, and access to information requests.
09/12/2025
TransUnion Canada

POLICY AMENDMENT

- Successfully led recommendations to TransUnion, through the Office of the Privacy Commissioner:

1. Acknowledging the receipt of an access request in writing within 30 days. The recommendations included adding explanatory wording within their written acknowledgment (e.g., clarifying identification requirements and that they engage directly with the consumer, not with credit repair companies). This ensures the requester is informed of any missing information needed to fulfill the access request.

2. Informing the requester/complainant of their right to file a complaint with the Office of the Privacy Commissioner of Canada once an access request has been fulfilled or a complaint/dispute investigation is completed. This helps the requester/complainant understand that this is the organization’s final response to the request or complaint/dispute.

09/12/2025
TransUnion Canada

POLICY AMENDMENT

Successfully led recommendations to Equifax, through the Office of the Privacy Commissioner:

1. Acknowledging the receipt of an access request in writing within 30 days. I recommended adding explanatory wording within their acknowledgment (e.g., clarifying identification requirements and their process for receiving access requests via mail, as per their policy). This ensures the requester is informed of any missing information needed to fulfill the access request.

2. Informing the requester/complainant of their right to file a complaint with the Office of the Privacy Commissioner of Canada once the access request has been fulfilled or the investigation into a complaint/dispute is completed. This helps the requester/complainant understand that this is the organization’s final response.

09/12/2025
TransUnion Canada

POLICY AMENDMENT

Successfully led recommendations to TransUnion, through the Office of the Privacy Commissioner of Canada, ensuring that requesters clearly understand when TransUnion is processing their access request. The recommendations also emphasized the need for specific information to advance the investigation and provide results.

Community Resources

Access community resources designed to help you protect your rights and challenge compliance practices of financial institutions and consumer reporting agencies. These tools can assist you in confirming the accuracy and consent of information placed in your consumer reports.
TEMPLATE
Demand Proof of Consent
  • Consent Verification
  • Proof Request
  • Rights Protection
  • Accountability Tool
Download
GUIDE
Understand Mandatory Notice Requirements
  • Notice Requirements
  • Consumer Protection
  • Legal Compliance
  • Rights Awareness
Download

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FRAC – Standing Strong for Your Financial Rights

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The Financial Rights Awareness Coalition (FRAC) exists to educate, advocate, and protect consumers against unfair financial practices. We raise awareness of financial rights, hold institutions accountable, and provide resources to empower individuals to make informed decisions. FRAC brings together voices, expertise, and action to ensure fairness, , and transparency in the financial system.

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FRAC
Organizations are required to provide mandatory notice of intent to obtain a consumer report from a consumer reporting agency in consideration of, or for the purpose of, extending credit at the time of the application. The notice must also be clear, bold, or underlined, in a font size no less than 10 points. at the time of application. #spreadtheword