Manitoba was among the first Canadian provinces to formally regulate payday lending, doing so under The Consumer Protection Act (C.C.S.M. c. C200), with the province's Consumer Protection Office overseeing licensing and cost-of-borrowing limits for the industry.
Early Payday Loan Regulation
Manitoba's early move to regulate payday lending, under The Consumer Protection Act, set licensing requirements and cost-of-borrowing caps specific to payday loans, ahead of many other provinces.
The Consumer Protection Office
Manitoba's Consumer Protection Office administers The Consumer Protection Act, licensing payday lenders and enforcing disclosure requirements so borrowers see the full cost of a loan before agreeing to it.
Federal Criminal Rate of Interest
Personal installment loans in Manitoba, like elsewhere in Canada, are governed separately by the federal Criminal Code's interest rate cap of 35% APR, effective since January 2025.
Borrower Rights
Manitoba borrowers are entitled to full written disclosure of costs and terms before signing, and can file a complaint with the Consumer Protection Office if a lender fails to comply.