Payday Lending Rules
Manitoba's Consumer Protection Act sets the payday loan cost ceiling at $17 per $100 borrowed — every lender needs a license from the Consumer Protection Office. Loans can't exceed 30% of your net pay, a 48-hour cooling-off period applies, and repeat borrowing is restricted.
Manitoba's cap runs a bit higher than Ontario's or BC's ($17 vs $15 per $100).
The Federal Rate Cap and Consumer Credit
The 35% APR criminal rate ceiling applies here too. Provincial legislation on top of that requires clear disclosure of every lending cost, bans misleading advertising, and gives borrowers remedies against unfair practices.
What the Consumer Protection Office Does
The CPO licenses and monitors payday lenders, investigates complaints, runs consumer education, and can pursue enforcement. It maintains a public registry of licensed lenders and publishes its own resources on borrowing safely.
Debt Collection Rules
Manitoba's Consumer Protection Act governs collectors too: licensing is mandatory, calls outside reasonable hours are banned, threats and harassment aren't allowed, and collectors must identify themselves. The general limitation period for debt collection in the province is 6 years.
Where to Get Help in Manitoba
The Consumer Protection Office (204-945-3800 or 1-800-782-0067) fields complaints. Community Financial Counselling Services (CFCS) of Manitoba offers free credit counselling, and Legal Aid Manitoba helps qualifying residents with debt-related legal matters.
Quick Reference
- Payday loans capped at $17 per $100 borrowed
- Loans can't exceed 30% of your net pay
- 48-hour cooling-off period on payday loans
- Free credit counselling through CFCS of Manitoba