Ottawa asks more of credit card companies in new consumer code

Ottawa asks more of credit card companies in new consumer code

Ottawa asks more of credit card companies in new consumer code The federal government has given credit card companies 30 days to implement a new code of conduct. The guidelines are still voluntary and build on the original code announced in 2010. Unfair business practices and improved transparency are key elements of the code, together with a specific section on mobile payments. Merchants as well as consumers should benefit from the updates which include lower fees and more-easily terminated merchant contracts.