News

Investment Exective   Investor advocacy in Canada is increasingly shifting in-house to the boards and advi­sory panels of the investment industry’s regulators. But stable and reliable funding for independent investor advocacy is badly needed, experts say. Laura Tamblyn Watts, CEO of seniors’ advocacy group CanAge Inc. and an independent director of...

Global News   Sebastien Vienneau says he repeatedly told Spring Financial, an online lender, that he had autism and needed more time to review his loan contract. But the company didn't budge, he says.  For seven months, Sébastien Vienneau, 20, says he paid around $120 a month for a personal loan with online lender Spring Financial, which he hoped would...

The Globe and Mail, July 23, 2020.   Canada’s Big Six banks face growing loan losses as government support programs wind down and loan-deferral and interest-rate relief programs for consumers come to a halt.   Banks have been gearing up for big losses from loan defaults that could arise from the COVID-19 pandemic’s economic hit, as millions of C...

At Prosper Canada, we pride ourselves on our ability to connect, engage and support our frontline partners. This allows us the fortunate perspective of seeing smart and inspirational efforts that may not be seen by the broader population. We see how every day our partners are exemplifying the ability to adapt quickly, pivot and respond to what seem to be insurmountable ch...

Prosper Canada and the City of Edmonton have embarked on a new and exciting relationship integrating financial empowerment tools into critical city services through the Prosperity Gateways: Cities for Financial Empowerment Initiative. The goal for the City of Edmonton is to help people with their financial challenges and contribute to a better city through tailored financ...

Français   Canadians who receive the Canada Child Benefit (CCB) and the Goods and Services Tax (GST/HST) credit need to complete their 2019 tax returns as soon as possible.   As of June, more than 1.9 million Canadians who were eligible in 2018 for the CCB or GST/HST credits have not yet filed their return or have not yet received an assessment for their re...

Building a clear path to relief now and a better benefits system going forward   By Elizabeth Mulholland and Noralou Roos   Since the advent of COVID-19, more than eight million Canadians have applied for emergency benefits to replace lost earnings. Many Canadians have also sought debt deferrals and expense relief to help make ends meet. According to th...

Policy Options: Author Elizabeth Mulholland. In the current crisis, it is important to put a “financial floor” under individuals to prevent avoidable hardship and to protect the health of vulnerable Canadians who are at greatest risk from COVID-19. The Canada Emergency Response Benefit (CERB) and other emergency relief measures have largely done a good job in th...

National Post, June 17, 2020. The federal taxpayers’ ombudsman says some of Canada Revenue Agency’s (CRA) processes are “systemically oppressive” towards vulnerable populations as well as indigenous, rural and northern communities.  “These (tax) filers feel they receive conflicting information, the processes are unfair and the CRA do...

We are pleased to announce Prosper Canada CEO, Elizabeth Mulholland, has been appointed by the FCAC Commissioner effective July 1, 2020, to the Consumer Protection Advisory Committee (CPAC). Contributions will include perspectives on the implications of the pandemic on the financial well-being of Canadians, the response of governments and financial institutions to ...