Competition Bureau obtains court order to advance an investigation of Dominion Lending Centres
May 19, 2023 – GATINEAU, QC – Competition Bureau
The Competition Bureau has obtained a court order to advance a civil investigation into alleged anti-competitive conduct by Dominion Lending Centres Inc. (DLC).
The Bureau requires more information to determine if the alleged conduct is harming competition in Canada’s mortgage brokerage industry. This includes examining certain practices that limit mortgage brokers’ ability to use the technology solutions of their choice.
DLC provides technology solutions and support services, including training, branding, marketing and advertising, and payroll processing, to mortgage brokers in Canada.
The order, granted by the Federal Court of Canada on May 16, 2023, requires DLC to produce records and written information that are relevant to the Bureau’s investigation.
There is no conclusion of wrongdoing at this time.
Mortgage brokers are provincially-licensed professionals who serve as intermediaries between borrowers and lenders.
DLC’s network of mortgage brokers originated $70.6 billion in residential mortgages in 2022.
The Bureau is investigating whether DLC is engaging in conduct contrary to the restrictive trade practices provisions, including the abuse of dominance provision, of the Competition Act.
Abuse of dominance occurs when a dominant business (or a group of businesses) engages in activity that substantially lessens or prevents competition in a market.
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
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