Supreme Court of Canada rules on the issue of “credit charges” pursuant to the Consumer Protection Act
The Supreme Court of Canada (SCC) has recently ruled on the issue of “credit charges” pursuant to the Consumer Protection Act and the issuance of punitive damages in Bank of Montreal v. Marcotte, as well as the two companion cases, Marcotte v. Fédération des caisses Desjardins du Québec, and Amex Bank of Canada v. Adams.
In the context of class actions originally initiated before the Quebec Superior Court in 2003, the Supreme Court of Canada has confirmed an award against some of the credit card issuing banks for failure to disclose conversion charges charged to credit card holders for purchases made in foreign currencies. In doing so, the SCC addressed the rules concerning the legal standing of class representatives in class actions initiated in Quebec and clarified the rules concerning definitions of “credit charges” pursuant to the Quebec Consumer Protection Act.
This content has been updated on October 8, 2014 at 10 h 46 min.