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Canadian Insolvencies Hit a 16-Year High — What the New Data Means for You

  More than 37,000 Canadians filed for insolvency in just three months — the highest quarterly total since the 2009 financial crisis. New data paints a sobering picture of where household finances stand heading into summer 2026. Fresh data from the Office of the Superintendent of Bankruptcy (OSB) and a new Equifax Canada report released this week confirm what many Canadians have been feeling: the financial pressure is real, it is growing, and it is reaching households that once seemed insulated from serious debt trouble. 📊 Q1 2026 — Key Numbers at a Glance 37,121 Consumer insolvencies filed in Q1 2026 +8.5% Year-over-year increase 17/hr Canadians filing every single hour $2.66T Total Canadian consumer debt The Highest Volume Since the 2009 Financial Crisis The Canadian Association of Insolvency and Restructuring Professionals (CAIRP) confirmed that Q1 2026's tally of 37,121 consumer insolvency filings is the largest quarterly figure since 2009 — the year North America was still re...
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Federal Officials Ignored Auditor’s Call to Report Suspicious $160-Million Contract to RCMP


Federal officials have reportedly ignored calls from an auditor to refer a suspicious $160-million contract to the RCMP for investigation. The auditor, who was involved in a federal program prioritizing Indigenous companies, produced a report alleging that a large nurse staffing agency exploited its Indigenous partner and submitted fraudulent documents. Despite the auditor's substantial evidence and recommendation to involve the RCMP, federal officials chose not to act, citing concerns about potential troubles.

The contract in question was an eight-year agreement to deliver nursing services in remote Indigenous communities. The auditor's findings led to the removal of the joint venture from the Indigenous Business Directory managed by Indigenous Services Canada.

This case highlights ongoing issues within federal procurement practices and raises questions about accountability and transparency in handling allegations of fraud.



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