B.C. introduces a bill to modernise consumer-protection laws, tackling credit fraud and transparency to align with Quebec and Ontario standards.
Province Tables Consumer-Protection Overhaul
The B.C. government introduced a new bill on October 9 aimed at overhauling outdated consumer-protection laws. The legislation, announced by Attorney General Niki Sharma, seeks to strengthen safeguards for British Columbians facing growing threats from credit fraud, identity theft and deceptive business practices.
Addressing Gaps in Consumer Safety
Officials say the proposed legislation will close long-standing gaps in existing laws and bring the province in line with protections already in place in Quebec and Ontario. The government argues that modern threats like online scams and data breaches require modern solutions, especially as financial crimes evolve faster than current laws can manage.
Rising Fraud Fuels Urgency for Reform
According to the Canadian Anti-Fraud Centre, Canadians reported more than 100,000 cases of fraud in 2024, resulting in losses exceeding $638 million. With fraud now among the country’s fastest-growing crimes, the province says updating its framework is critical to protecting residents from financial harm.
New Rights for Consumers
The proposed bill would give British Columbians a legal right to one free monthly credit report and the ability to place credit freezes or security alerts on their financial profiles at no cost. It also aims to strengthen oversight of credit-reporting and credit-repair businesses, mandating greater transparency and preventing misleading or exaggerated claims.
“These changes are about empowering consumers,” said Sharma. “We’re building a fairer, more transparent, and accountable marketplace.”
Industry and Public Response
Major credit bureaus Equifax and TransUnion have voiced support for the introduction of credit freezes, describing them as an effective defense against fraud. Consumer advocates also welcomed the crackdown on dishonest credit-repair practices, emphasizing that financially vulnerable residents need realistic, not misleading, promises.
“The last thing someone struggling financially needs is a false sense of hope,” Sharma added.
Second Phase of Legislative Reform
This bill marks the second phase of B.C.’s effort to modernize consumer laws. The first phase, introduced earlier this year, focused on contract fairness and restrictions on predatory sales tactics. The government says the new amendments will continue building a system that better reflects today’s digital economy and financial risks.
Looking Ahead
If passed, the bill will not only elevate B.C. to the same standard as other provinces but also set a new national benchmark for consumer protection. By expanding access to credit information and tightening oversight, the government aims to restore public confidence in a marketplace increasingly shaped by technology and data.
