Cautious optimism for federal plan to let rent count toward credit scores
Companies that already offer ways to allow rent payments to count toward credit scores are welcoming the plan by the federal government to make the practice more widespread.
Andrew Graham, chief executive of Borrowell, says he was pleased to see the government move forward on what is an important way to help consumers boost their score.
He says open banking will be an important part of the program succeeding, and in the meantime is calling on banks to help make the data more accessible.
Prime Minister Justin Trudeau said Wednesday that there's something fundamentally unfair about paying $2,000 a month for rent, while those paying the same for a mortgage get equity and build their credit score.
Elizabeth Mulholland, chief executive of charity Prosper Canada, says the plan could be helpful, but it's important people can choose to opt in or not since it could hurt some credit scores.
The Canadian Bankers Association said in a statement that it works collaboratively with government to explore new ways to serve Canadians and will assess the impact of the new policy as details are revealed.
This report by The Canadian Press was first published March 28, 2024
This is a corrected story. A previous version had the wrong day of the week for Trudeau's announcement.
IN DEPTH
Budget 2024 prioritizes housing while taxing highest earners, deficit projected at $39.8B
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
'One of the greatest': Former prime minister Brian Mulroney commemorated at state funeral
Prominent Canadians, political leaders, and family members remembered former prime minister and Progressive Conservative titan Brian Mulroney as an ambitious and compassionate nation-builder at his state funeral on Saturday.
'Democracy requires constant vigilance' Trudeau testifies at inquiry into foreign election interference in Canada
Prime Minister Justin Trudeau testified Wednesday before the national public inquiry into foreign interference in Canada's electoral processes, following a day of testimony from top cabinet ministers about allegations of meddling in the 2019 and 2021 federal elections. Recap all the prime minister had to say.
As Poilievre sides with Smith on trans restrictions, former Conservative candidate says he's 'playing with fire'
Siding with Alberta Premier Danielle Smith on her proposed restrictions on transgender youth, Conservative Leader Pierre Poilievre confirmed Wednesday that he is against trans and non-binary minors using puberty blockers.
Supports for passengers, farmers, artists: 7 bills from MPs and Senators to watch in 2024
When parliamentarians return to Ottawa in a few weeks to kick off the 2024 sitting, there are a few bills from MPs and senators that will be worth keeping an eye on, from a 'gutted' proposal to offer a carbon tax break to farmers, to an initiative aimed at improving Canada's DNA data bank.
Opinion
opinion Don Martin: Gusher of Liberal spending won't put out the fire in this dumpster
A Hail Mary rehash of the greatest hits from the Trudeau government’s three-week travelling pony-show, the 2024 federal budget takes aim at reversing the party’s popularity plunge in the under-40 set, writes political columnist Don Martin. But will it work before the next election?
opinion Don Martin: The doctor Trudeau dumped has a prescription for better health care
Political columnist Don Martin sat down with former federal health minister Jane Philpott, who's on a crusade to help fix Canada's broken health care system, and who declined to take any shots at the prime minister who dumped her from caucus.
opinion Don Martin: Trudeau's seeking shelter from the housing storm he helped create
While Justin Trudeau's recent housing announcements are generally drawing praise from experts, political columnist Don Martin argues there shouldn’t be any standing ovations for a prime minister who helped caused the problem in the first place.
opinion Don Martin: Poilievre has the field to himself as he races across the country to big crowds
It came to pass on Thursday evening that the confidentially predictable failure of the Official Opposition non-confidence motion went down with 204 Liberal, BQ and NDP nays to 116 Conservative yeas. But forcing Canada into a federal election campaign was never the point.
opinion Don Martin: How a beer break may have doomed the carbon tax hike
When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.
CTVNews.ca Top Stories
BREAKING Veteran TSN sportscaster Darren Dutchyshen has died
Veteran TSN broadcaster Darren 'Dutch' Dutchyshen, one of Canada’s best-known sports journalists, has died. He was 57. His family says 'he passed as he was surrounded by his closest loved ones.'
Kidnapped by her father and kept in a crawl space: Court documents reveal Montreal horror story
A Montreal father who kidnapped his daughter who has autism and lied to police when they asked where she was should serve three years in prison, a Crown prosecutor said.
Ontario's so-called 'Crypto King' soliciting investments as recently as February: police
Police are alleging that Ontario’s so-called ‘Crypto King’ Aiden Pleterski was soliciting investments as recently as February – almost two years after he was petitioned into bankruptcy for allegedly running a Ponzi scheme worth more than $40 million.
Pierre Poilievre presses Justin Trudeau for summer pause on carbon and fuel taxes
To give Canadians a break on their summer road trips, Conservative Leader Pierre Poilievre is calling on Prime Minister Justin Trudeau to suspend all gas and diesel taxes from Victoria Day to Labour Day.
Noticed a new payment? Some Canadians get first carbon rebate
Many Canadians found a message from the Canada Revenue Agency this week as they received their first direct deposit for the Canada Carbon Rebate.
Teen died from eating a spicy chip as part of social media challenge, autopsy report concludes
A medical examiner says a Massachusetts teen who participated in a spicy tortilla chip challenge died from ingesting a substance 'with a high capsaicin concentration.'
Protecting your car from the growing risk of keyless vehicle thefts
Auto technology has evolved and many newer cars use wireless key fobs and push-button starters instead of traditional metal keys. But that technology also makes things easier for thieves.
WATCH Scientists get a surprising glimpse at a rare deep-sea squid
Scientists from the University of Western Australia and Kelpsie Geociences in the U.K. say they were surprised to discover an underwater camera caught video of a rare deep-sea squid.
There's a new workers' rights treaty in Canada. What does it mean for you?
Although a global workers' treaty has been in force in Canada since January, an employment lawyer believes it won't do anything more to protect employees from violence and harassment.
Local Spotlight
'Sacred work': Sask. First Nation learning how to conduct its own underground searches
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.
'It could mean a cure': Cautious optimism for groundbreaking ALS research at Western
ALS patient Mathew Brown said he’s hopeful for future ALS patients after news this week of research at Western University of a potential cure for ALS.
B.C. musician's song catches attention of Canucks
When Adam Kirschner wrote 'Slap Shot,' he never imagined the song would be embraced by his favourite team.
'We're on standby': Team ready to help entangled right whale in Gulf of St. Lawrence
A team is ready to help an entangled North Atlantic right whale in the Gulf of St. Lawrence.
Thieves caught on camera stealing pet chicken from North Vancouver backyard
A $200 reward is being offered by a North Vancouver family for the safe return of their beloved chicken, Snowflake.
Adopted daughter in the Netherlands reunited with sister in Montreal and mother in Colombia, 40 years later
Two daughters and a mother were reunited online 40 years later thanks to a DNA kit and a Zoom connection despite living on three separate continents and speaking different languages.
'Reimagining Mother's Day': Toronto woman creates Motherless Day event after losing mom
Mother's Day can be a difficult occasion for those who have lost or are estranged from their mom.
Chris Hadfield inspires youth musical in Sudbury
YES Theatre Young Company opened its acclaimed kids’ show, One Small Step, at Sudbury Theatre Centre on Saturday.
Ottawa pizzeria places among top 20 deep-dish pizzas in the world at international competition
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.