Appearance before the Standing Committee on Finance (July 7, 2020): Providing timely information to consumers

Issue

Canadians require objective, unbiased, timely and accessible educational resources to manage their finances during the COVID-19 pandemic. Throughout the pandemic, FCAC has taken steps to provide consumers with timely information and updates to help them manage their finances. 

Background

Since March 2020, the Agency has aimed to issue timely information to help consumers navigate their way through the financial implications of the pandemic. Examples of these efforts include:

• Consumer education content 
• Statements from the Commissioner 
• A strategy comprising social media, online information, articles and radio spots and stakeholder engagement to inform consumers about good practices when receiving Government of Canada emergency benefits
• Financial literacy newsletter and blog and social media posts

Data/Quick facts

The following is a list of select FCAC online English and French information products, with total numbers of visits between March 16 and June 28:

• Managing financial health in challenging times (16/03) – 80,011 visits
• Commissioners statement on Agency’s response to COVID-19 (09/04) – 3,001 visits
• Warning of potential fraud (03/04) – 3,776 visits
• Receiving the CERB or other benefits – What you need to know about cashing your cheque (05/12) – 6,930 visits

Key messages

• FCAC was proactive and reacted rapidly to an evolving context by creating online content to educate and inform consumers when the pandemic struck. 
• The Agency and other key federal departments are collaborating to exchange, share and amplify one another’s consumer-facing content and messages on the Government of Canada’s response to COVID-19.