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Ontario Modernizes Credit Union Legislation |
October 10, 2009
Previously published on September 2009
The Credit Unions and Caisses Populaires Act, 1994 (the "Act") and associated Regulations sets out the legislative framework in which credit unions and caisses populaires operate in Ontario. Ontario has recently proclaimed amendments to the Act to come into effect on October 1, 2009. The amendments are intended to enable credit unions and caisses populaires to remain competitive in the financial services marketplace while preserving the soundness of the regulatory system.
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