Special edition on your finances and COVID-19

Consumer Edge

Office of Consumer Affairs

April 24, 2020

You may be worried about the impact of the current COVID-19 pandemic on your finances. Whatever the source, financial emergencies can be stressful and cause considerable hardships for you and your family.

Stay informed and reduce the spread of COVID-19

Be vigilant: self-isolate if you have travelled or are experiencing symptoms. Practice social distancing when you are in public places. Limit your trips to grocery stores – many stores are now offering curbside pickup.

Wash your hands often following the guidelines from the Public Health Agency of Canada.

Do you think you might have COVID-19? Use the self-assessment tool to find out what to do.

For information about COVID-19 please visit the Government of Canada's COVID-19 Outbreak Update page for the most up-to-date information.

COVID-19: Managing financial health in challenging times

Read the Financial Consumer Agency of Canada (FCAC)'s latest information on what to do if you have financial hardship due to the COVID-19 pandemic.

FCAC is monitoring the rapid evolution of COVID-19 and assessing its impacts on banks and other regulated entities. Learn about how FCAC is responding.

FCAC also has many educational resources and tools on budgeting, credit, savings, debt management and more.

If your debt load is worrying you as a result of job loss or reduced work hours due to Covid-19, there may be mortgage or payment deferrals available to help you. Contact your creditors directly to see what they can do for you.

Recognizing and reporting credit or debit card fraud

As COVID-19 continues to spread globally, watch out for associated scams. Fraudsters want to profit from consumers' fears, uncertainties and misinformation. Fraudsters are exploiting the crisis to engage in fraud and cyber crime. Protect yourself and beware of spoofed government and healthcare information or research. Read the following special bulletin for more details.

If you suspect fraud, such as an email or text scam, always report it. To report fraud during COVID-19, the Canadian Anti-Fraud Centre is requesting that you contact local police at this time.

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