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  • Additional Public Disclosure for Credit Agreements other than Instalment Financing Facilities

    • BC-4.2.14

      In addition to the requirements under Paragraph BC-4.2.9, retail banks must publicly disclose by conspicuous notice for Credit Agreements other than instalment financing facilities listed below:

      (a) For credit cards, the monthly and the annual rate of profit plus other fees and charges;
      (b) [This Subparagraph was deleted in April 2014];
      (c) [This Subparagraph was deleted in April 2014]; and
      (d) For instances where the customer exceeds contractual credit lines, the terms and any relevant charges.
      Amended: July 2015
      Amended: April 2014
      Added: October 2012

    • BC-4.2.15

      For credit agreements other than instalment financing facilities, any advertising through any media means must specify only the annual profit rate and other fees and charges.

      Added: October 2012

    • BC-4.2.16

      For credit agreements other than instalment financing facilities, banks are prohibited from using the term APR in any advertising.

      Added: October 2012