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Elizabeth Sale

Elizabeth Sale

Partner, Banking and Financial Services


Contact Information

esale@osler.com

tel: 416.862.6816

Office

Toronto

Areas of Expertise
Bar Admission

Ontario, 2004

Education
  • Osgoode Hall Law School, LL.B.
  • Wesleyan University, B.A.
Language(s)
French, English

Elizabeth is a partner in the Toronto office specializing in the regulation of financial institutions and other financial services providers, including banks, foreign banks, captive finance companies, payday lenders, insurance companies, trust companies, loan companies, participants in the payment card industry and fintechs. She has particular expertise in both federal and provincial consumer protection and cost of borrowing legislation, including the application of these laws in the online environment, and routinely assists clients with their retail product offerings.

Elizabeth frequently assists vehicle and equipment lessors and financiers in developing and modernizing their customer-facing agreements (consumer and commercial) and provides advice on motor vehicle dealer legislation. She also provides advice on debt collection, credit reporting, unclaimed property, anti-money laundering, anti-terrorism financing and sanctions laws.

Elizabeth sits on the Policy Committee of the Canadian Lenders Association where she provides regulatory insight to members on trends and developments in commercial and consumer lending.

Elizabeth was seconded to the retail banking group of a major Canadian bank in 2014.

    • Advised Credit Karma, a free credit and financial management platform, in its expansion into Canada.
    • Acted as external counsel for CIBC, in its agreement with Borrowell Inc. for the provision of online loan origination services.
    • Provided regulatory advice to an automotive company in connection to its launch of a luxury vehicle division.
    • Advised an alternative financial company on the launch of its national mortgage loan product offering.
    • Advised a consumer lending platform with their launch of innovative loans and financing products.
    • Providing ongoing regulatory advice to numerous lenders and captive finance companies on all aspects of their lending business, including advice to foreign lenders on their expansion into Canada.
    • Providing advice on all aspects of retail banking products and services for numerous Schedule I and Schedule II banks, including in respect to unsecured lines and loans, mortgages, auto finance programs, deposit agreements, credit card programs and optional products and services, in all channels.
    • Assisting commercial finance, private equity and asset management companies with their regulatory due diligence in relation to leveraged acquisitions of/investments in consumer finance companies.

  • The Canadian Legal Lexpert Directory, 2017: Asset Equipment Finance/Leasing
  • IFLR1000: The Guide to the World’s Leading Financial Law Firms, 2018: Financial Services Regulatory
  • The Legal 500 Canada 2019: Next Generation Lawyer, Banking and Finance

  • Canadian Lenders Association, Policy Committee
  • Canadian Finance and Leasing Association’s Women in Asset Financing Committee
  • Ontario Bar Association: Member of the Consumer Law Committee of the Business Law Section

  • "Canada” chapter in International Banking Law & Regulation, Center for International Legal Studies, 2018.

Previous Speaking Engagements

  • Implementing Effective Compliance Management, The Canadian Institute's 22nd Annual Regulatory Compliance for Financial Institutions conference, Toronto, Ontario, November 22-23, 2016
  • FinTech Laws in Canada and the U.S.A.: A Comparative Perspective, Business Law Section Annual Meeting, American Bar Association, Boston, Massachusetts, September 8-10, 2016.