• Require a summary information box in credit contracts and application forms that will set out up front, in clear and simple language, key information such as annual interest rates on new purchases, on cash advances and on balance transfers; grace periods to pay for new purchases before interest is charged; how minimum payments are calculated; and other fees. 
• Require provision of information on the time it would take to fully repay the balance, if only the minimum payment is made every month.
• Mandate advance disclosure of interest rate increases prior to their taking effect, even if this information had been included in the credit contract. This measure would provide consumers advance notice on monthly statements, if interest rates are going to be increased in the short term.  This would capture situations such as rate increases following the end of low introductory rates or rate increases triggered by the consumer skipping one or more minimum payments.

The regulations were  published in the Canada Gazette on May 23, and the deadline for submissions was June 13.   Further information can be found at:  http://www.fin.gc.ca/n08/09-048-eng.asp