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Government Proposes Code of Conduct for Credit and Debit Card Industry

In a media release today, The Government of Canada has introduced a proposed Code of Conduct for the Credit and Debit Card Industry in Canada.

The Code is intended to promote fair business practices to ensure merchants and consumers alike clearly understand the costs and benefits of credit and debit cards. The proposed today is based on a series of on-going discussions with merchant and consumer associations across Canada.

Bank Machine

Once Adopted the Code would:

Stakeholders (merchants and consumers) have 60 days to submit comments on how to monitor compliance with this proposed code. If you have a comment, you may submit it to codeconsult@fin.gc.ca [1].

Full Details Available

A copy of the proposed Code of Conduct can be seen here [2] and the news release from the Minister of Finance here [3].