Prince William says wife Kate is 'doing well'
Prince William said on Friday his wife Kate was 'doing well' in a rare public comment about the Princess of Wales as she undergoes preventative chemotherapy for cancer.
Equifax Canada is exploring how rent data could factor in to credit scores to help make credit and financial services accessible to more people.
The agency said it has been testing small volumes of rental payment data to assess its suitability.
An Equifax study found that including "alternative data" could establish or enhance the credit scores for millions of Canadians.
"Equifax Canada has been leading the way and has been modelling how rental payments, just like mortgage payments, can help build a credit score," Equifax Canada president and CEO Sue Hutchison said in a news release.
"This is so important for young Canadian consumers, new Canadians and other underserved consumers."
The federal government announced last month it wants to see rental payment history count toward credit scores.
"Renters matter, and young Canadians put a lot of their hard earned money toward rent. We think that should count for a lot more," Prime Minister Justin Trudeau said when he announced several initiatives to help renters on March 27.
In its budget last week, Ottawa called on banks, fintechs and credit bureaus to prioritize launching tools that would allow renters to opt in to reporting their rent payment history.
This could help more renters become homeowners, the government said, as a history of on-time rental payments could strengthen credit scores and make it easier to qualify for a mortgage or a lower interest rate.
Equifax said including rental payments in credit scores will help make credit and mainstream financial services more accessible.
"Renters are a growing part of the Canadian economy and it's time they are recognized for making their rent payments on time," Hutchison said.
Ottawa's announcement was welcomed by some companies, including Equifax Canada, while advocates for renters said it could be a double-edged sword.
Elizabeth Mulholland, chief executive of charity Prosper Canada, said many people are struggling with higher rental costs and may not always be able to pay their rent on time.
Because of that, it's important people have control over whether they want to share rental data with credit bureaus, Mulholland said.
"If you just blanket build it in, that could be problematic for a lot of low income people and vulnerable people," she said.
-- With files from Ian Bickis
This report by The Canadian Press was first published April 23, 2024.
Prince William said on Friday his wife Kate was 'doing well' in a rare public comment about the Princess of Wales as she undergoes preventative chemotherapy for cancer.
Canadian Blood Services issued an apology on Friday to the LGBTQ2S+ community for what it now admits was a harmful and discriminatory blood donation policy that prevented sexually active men who have sex with men and some trans people from donating blood and plasma.
Toronto Mayor Olivia Chow says that she is hopeful an announcement could be made soon amid multiple reports that a WNBA team is coming to Toronto in 2026.
A 4.2-magnitude earthquake was recorded west of Vancouver Island early Friday morning.
A provincial coroner will be investigating the death of 68-year-old David Lippert, who suffered a cardiac arrest while waiting in a crowded emergency room in Kitchener, Ont.
Police in Newfoundland say patrol officers were assaulted Thursday by a "very irate male" wielding a block of cheese.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Average hourly wages among Canadian employees rose to $34.95 on a year-over-year basis in April, a 4.7 per cent increase, according to a Statistics Canada report released Friday morning.
Andy Kim's 'Rock Me Gently' is marking a major milestone, as it celebrates its 50th anniversary.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
A P.E.I. lighthouse and a New Brunswick river are being honoured in a Canada Post series.