Entries by Kim

Open banking

In Budget 2024, the Government of Canada announced its plan for the implementation of consumer-driven banking. Consumer-driven banking, also known as open banking or consumer-directed finance, refers to frameworks that allow consumers and small businesses to securely transfer their financial data through an application programming interface (API) to approved service providers of their choice. Consumer-driven banking […]

Team Margill at ABA Techshow

For 38 years now, American Bar Association Techshow has has brought together legal professionals and technology. This year, the ABA Techshow will take place at the Hyatt Regency in Chicago from February 14 to the 17th, 2024. Come say say hello to the Margill Team at booth 332 to learn more about how our software can […]

Criminal interest rate: Canada sets high stakes for high rates

As it revisits decades-old regulations on what constitutes a criminal interest rate, Canada challenges lenders to remain profitable under substantially tighter margins. These Regulations are necessary to implement amendments brought by the Budget Implementation Act, 2023, No. 1 to section 347 of the Criminal Code. The amendments will lower the criminal annual rate of interest from the current 60 per […]

Margill in Tunisia

  Ambassador Lorraine Diguer and the team of trade delegates from the Canadian Embassy in Tunisia met with Mr. Marc Gélinas, founding president of the Canadian company Jurismedia inc., his team as well as representatives of their Tunisian partner DevXperts (5Xperts Group). The discussion focussed on opportunities in Tunisia in addition to celebrating success of […]

Do I Have To Pay Back This Loan?

Joe Patrice, senior editor at “Above The Law“, offers a helpful guide for anyone wondering how borrowing works for different people. Earlier this week, Jonathan Turley’s thirst for attention led him to go on TV to describe “car loan payments” as corruption that “none of us have seen the likes of.” Turley is, of course, […]

Update to the Google Personalised ads policy

In February 2024, Google will update its Personalised ads policy to introduce new limitations on personalised ads relating to consumer financial products and services. Specifically, Google’s ‘Credit in personalised ads’ policy will be expanded to cover ‘Consumer finance in personalised ads’. The updated policy will read as follows: ‘In the United States and Canada, the following sensitive […]

Goldman Alums Set Up Matchmaking Platform for Private Credit

Two former Goldman Sachs Group Inc. bankers want to take the $1.6 trillion private credit revolution from Wall Street to Main Street. George van Dorp and Koen van Vlijmen, who both worked in the American bank’s London office, have built a product that matches small businesses with alternative lenders. Take a look at this excellent […]

New complete Margill Loan Manager User Guide available

After many years of updates and new features, we are happy to release the new MLM User Guide for software versions. 5.5 / 5.6.  The PDF file, which contains a total of 1241 pages, is mostly a document you can consult for specific matters.  We do not expect you to read it entirely, unless you really need […]

A 47-year mortgage? They’re out there — and even longer ones could be coming

Banking regulator says about $250B worth of home loans are either currently or soon to be negatively amortized. Canada’s top banking regulator will soon implement new guidelines for the mortgage market, aimed at reducing the risks posed by negative amortization mortgages — home loans where the payment terms have ballooned by years and sometimes decades because […]