The Alberta government says a provincial investigation has led to several guilty pleas after some Quebec-based lenders allegedly used illegal interest rates and harassment to target borrowers.
Alberta’s Consumer Investigations Unit (CIU) started investigating in 2025 after complaints about unlicensed lending aimed at Alberta residents.
Investigators found the companies in question marketed themselves as real lenders but used illegal interest rates and intimidation to collect debts. They also learned about the use of phone-blocking attacks that affected borrowers, their families, workplaces and unrelated private businesses, a seniors’ home, an elementary school and hospitals.
“This investigation by our CIU team revealed the increasingly sophisticated methods used by illegal lenders, including the misuse of telecommunications systems to intimidate and pressure consumers,” says Minister of Service Alberta and Red Tape Reduction Dale Nally in a statement.
Several individuals and companies entered guilty pleas between April and June 2026:
Albertans are being urged to verify that lenders are properly licensed, review loan terms carefully, and understanding all fees before borrowing.
The province says high‑cost credit loans with an APR of 32 per cent or higher require a licence, and interest rates above 35 per cent could be illegal. Payday lenders can charge a maximum of $14 per $100 borrowed.
Anyone who thinks they may have been targeted by unfair practices is asked to call the Consumer Contact Centre at 1‑877‑427‑4088.
