Payment deferral programs are weighing down the banks' financial performance.

A review of Canada's Big Six banks by the Financial Consumer Agency of Canada found risks of "mis-selling."

Mike Wood, the group's local chair, says it's currently cheaper to take out a payday loan that it is to overdraw your bank account.

Scotiabank is introducing a bank account that allows customers to create several savings buckets and earn a higher interest rate for longer term deposits.

A financial crimes expert says the federal anti-money-laundering agency breached its own standards by not identifying the Canadian bank it has fined $1.1 million for not reporting suspicious transactions — an assertion the watchdog denies.

The federal anti-money laundering agency has levied a $1.1-million penalty against an unnamed Canadian bank for failing to report a suspicious transaction and various money transfers.

Despite concerns that a sluggish economy, tapped out borrowers and low rates could weigh on results, the country's big banks continued to crank out huge profits.

Twelve major banks have agreed to pay $1.87 billion to settle allegations that they colluded to fix prices and lock out competitors for insurance-like products traded before the financial crisis.

Mortgage rates are heading down again while the central bank is holding its key rate steady. Here's a look at where borrowing rates are at, and where they're headed.