What is the Canadian Lenders Association?
The Canadian Lenders Association (CLA) supports the growth of fintech companies that are in the business of lending. They represent and advocate for over 200 companies across Canada that participate in SMB, BNPL, consumer, home, auto, and mortgage sectors.
What does the Canadian Lenders Association member's do?
Many of the CLA's lenders offer loans to individuals who are new to credit, have little credit history or are temporarily going through difficulties financially but are likely to repay their debts.
What does the Canadian Lenders Association do?
The CLA works to provide credit product resources and inform the consumer on how best to graduate to higher credit scores.
What's a CLA membership like?
One of the pillars of CLA membership is innovation. CLA members are moving the needle in a myriad of ways that incumbent lenders, due to the stage of their business, are simply not built to do. Member innovation is improving the accuracy of underwriting so Canadians receive credit they are financially equipped to pay back.
What aspects of the Canadian lending ecosystem does the CLA represent?
The CLA represents all aspects of Canada’s lending ecosystem including: policy, advocacy, standards, and innovation. The CLA's role is to support the highest level of lending in Canada.
What are some CLA Member benefits?
There are multiple CLA member benefits including: 1. Lender certification and membership accreditation 2. Government relations advocacy and support 3. Access to leadership roles on the board, committees, round tables and task-force initiatives 4. Free integration for Lenders API, data exchange service and more.
How many newsletter subscribers does the CLA have?
You can join the over 5 thousand fintech and lending executives who read the CLA's monthly news briefing by subscribing to their newsletter on their website.
What are some examples of the CLA's Non-Lender Members?
Prospective non-lender members must agree to support the Canadian Lenders Association (CLA) purposes and conduct themselves in accordance with the mission. Composed of those companies that provide best-of-class services that are non-lenders include: 1. Corporate finance / Investment banks, 2. Law firms / Accounting firms, and 3. Fintech Vendors.
Is the CLA safe?
The CLA has doubled in size each year, and now counts a number of major financial instructions amongst its members. In fact, in 2020 an executive from one of Canada’s “Big Five” banks, the Bank of Montreal (BMO) joined the CLAs board.