Payday Loan Aggregate Data Form

 As you may know, Payday Loans Regulation 4(2)(b) and 4(3), require all payday lenders licensed in British Columbia to annually report aggregated loan data.  The data is in respect of all the loans granted by the licensee during the licensee’s most recently-completed fiscal year.  For a licensee’s fiscal year commencing AFTER December 1, 2011, the nature and amount of aggregated data that must be reported for the next fiscal year has been slightly amended and expanded.The attached documents set out the specific data that all licensees must begin to track, record and report to meet the amended reporting requirements.  There are 2 new reporting requirements: 1) reporting the sale of ancillary products sold to payday borrowers and 2) the number of loans granted to each individual borrower during the reporting period.  You should review - and if necessary - modify your recordkeeping system so that you will be able to comply with the new requirements.  You should refer to the attached “Definitions for Aggregated Payday Loan Data Terms” to ensure you understand the meaning of the terms used on the input form.

You must now also report data for each location individually as well as aggregated for all locations if you operate multi-branches in British Columbia. 

For the next reporting period, all licensees will be offered the option of reporting the data using a new, online form that will soon be available through the licensee’s online account with Consumer Protection BC.  Alternately, a licensee may continue to report by completing an amended paper report and sending the report to our office.  In either case, the expanded data must accompany the licensee’s renewal application for a payday lender licence for licence year 2012/13 and later.

For your information, the aggregated payday loan data is collected and may be used for the following 3 purposes:
•    To better inform us of the nature of the payday loan industry in British Columbia;
•    To highlight areas of possible non compliance with the legislation where we should focus our education and/or compliance resources, and
•    To assist the Government of BC with setting public policies in respect of payday loans.

All licenses will be sent a reminder about the new reporting requirements when we send out the renewal notices for licence year 2012/13.  The reminder will also provide detailed information on how to access and use the new online reporting form for the aggregated loan data.If you have any questions about these changes, please contact Morris Redecopp, Manager of Regulatory Audit, at either 604 296 2854 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

The new form contents are available here.