Clear (and Accessible) Terms

We are now one week into the implementation of the Credit Card Act, which addresses new credit card disclosure practices. In essence, these introduced regulations ensure the clear communication of interest rates, annual fees, and penalty charges to customers. Finance Minister Flaherty is to be commended for his decision to mandate that organizations more effectively communicate such important financial terms.  

Many Canadian banks and credit card institutions are already making alternate format statements available for blind and partially sighted customers, ensuring that all consumers have an equal opportunity to review and respond to credit card detailing, which is especially important during these uncertain economic times. In following suit of the Credit Card Act, this ensures that the method of communication is equally as accessible as the content itself.

As a credit cardholder, I applaud this initiative, as it ensures clear financial communications. As a blind consumer, I applaud accessible practices, which ensure accessible financial communications.