Disclosure of Mortgage Information to Third Party Creditors
On January 6, 2011, the Ontario Court of Appeal released its decision in Citi Cards Canada Inc. v. Charles Pleasance, The Canada Trust Company and The Toronto-Dominion Bank, 2011 ONCA 3 (“Citi Cards”) confirming that financial institutions are bound by the Personal Information Protection and Electronic Documents Act, S.C. 2000, c. 5 (“PIPEDA”) and cannot disclose personal information (e.g., mortgage statements) about a customer without the customer’s consent, unless an exception in PIPEDA applies.