Can you trust your bank? Here’s what to watch for based on a new financial watchdog report
A review of Canada’s Big Six banks by the Financial Consumer Agency of Canada found risks of “mis-selling.” Continue reading
big banks
Hamilton demonstrators demand more affordable banking for everyone
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. Continue reading
Saving for multiple goals? Finally, there’s a big-bank app for that
Scotiabank is introducing a bank account that allows customers to create several savings buckets and earn a higher interest rate for longer term deposits. Continue reading
Why didn’t Canada’s money-laundering watchdog name a bank fined $1.1M?
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. Continue reading
Unnamed Canadian bank fined $1.1M for failing to report suspicious dealing
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. Continue reading
Here’s how much profit Canada’s big banks made this year
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. Continue reading
Big banks to pay $1.9B in tentative deal to settle price-fixing case
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. Continue reading
5 things to know about interest rates right now
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. Continue reading