Consumer Financial Protection

While improving Financial Literacy of all Canadians is a noble goal and one to which we contribute, our work with  low income Canadians has exposed some policy challenges.

The Challenges

  • Government financial support programs contradictory and complex (e.g., OSAP and OSDP)
  • Financial materials from Financial Service Providers: inappropriate for low income households and difficult to interpret
  • Lack of Poverty Literacy – an inability to appreciate and value the choices Canadians make when living on a low income
  • Community-based financial literacy supports necessary but unsustainable so long as funding for financial literacy initiatives short term and precarious

Some Policy Questions

  • Who is best to advocate for the individual confronting a tangle of complex and contradictory financial information?
  • How do we best address the policy contradictions when confronted in practice?
  • How can we raise an appreciation for the lived experience of poverty?
  • How do we ensure the sustainability of necessary community-based financial literacy supports?

Consumer Financial Protection Research Outcomes

Comments to the Ontario Government on “Strengthening Consumer Financial Protection” (PDF, 115KB, 5 pages)