Overview Of Obligations For Trust And Loan Companies

Voluntary codes of conduct

• Canadian Code of Practice for Consumer Debit Card Services

  This code of conduct is designed to protect Canadian consumers who use debit card services. It outlines industry practices and the responsibilities of both consumers and  industry in relation to debit card transactions and liability. Certain trust and loan companies have stated that they have voluntarily adopted the Code.

• Code of Conduct for Credit and Debit Card Industry in Canada

  This code applies to debit and credit card networks and their participants. It outlines payment card networks operators’ responsibilities for providing information, flexibility and choice to merchant.

Public commitments

Fraud protection

Several organizations and institutions have made formal commitments to protect consumers from the unauthorized use of their credit cards. These commitments outline consumers' liability in relation to fraudulent transactions on their credit cards.

Visa
MasterCard
Interac