Highlights / banks

Economy

Bank of Canada: Negative interest rate, ‘in the toolkit’

Around the world economies are suffering from the effects of the pandemic and central banks have lowered interest rates as one measure to mitigate the effects. Here in Canada, several reports have indicated that an economic recovery which seemed to »

Economy, Politics, Society

Banks must do more to help, say citizens

A citizen’s group is calling on the Canadian government to oblige Canada’s big six banks to do more to help people and businesses during and after the coronavirus crisis. Democracy Watch called for change on behalf of more than 95,000 »

Economy, Health

Canada’s major banks committed to take action during COVID-19 outbreak

Canada’s six major banks announced last night that they are taking action to help its customers throughout the COVID-19 outbreak. Starting now, the National Bank, Bank of Montreal(BMO), TD Bank, CIBC, RBC Royal Bank, and Scotiabank, are committed to working »

Economy, International, Internet, Science & Technology, Society

E-transfer fraud, banks say it’s not their fault

Banks promote e-transfers as an easy and safe way to transfer money. For some customers, the “easy” part is correct, but not the “safe” part. In most cases the banks say it’s the customer’s fault for having weak security questions »

Economy, Internet, Science & Technology, Politics, Society

Statistics Canada seeking Canadian’s personal financial data

Privacy concerns An effort by Canada’s official statistics gathering agency to obtain personal financial information of some 500-thousand Canadians has attracted the attention of the federal privacy commissioner. The pilot project by Statistics Canada also has opposition politicians in the »

Society

Canadians’ average debt increases, prompts warning

While 46 per cent of Canadians decreased their personal debt, those who did not added an average 3.3 per cent to what they owe, according to the consumer credit reporting agency, Equifax. Excluding the mortgage debt on their houses, the »

Economy, Highlights, Society

Interest rates: Canadians living too close to the edge

A million Canadians are living on borrowed time, and borrowed money. A new survey shows a mere 0.25 percent increase in lending rates would push some 700,000 Canadians into a financial squeeze. Increase the lending rate by one full point, »

Economy, Politics

Government strikes deal with top banks: Free accounts for low-income Canadians

Eight of Canada’s biggest banks have made voluntary commitments to provide no-cost accounts to low-income Canadians, Finance Minister Joe Oliver announced on Tuesday (May 27). “Canadians work hard for their money. Our Government believes Canadians deserve to keep more of their hard-earned »

Economy

Four Canadian banks on Top 10 list of world’s strongest

Four of Canada’s biggest banks are among the top 10 in a global ranking of the strongest banks according to data compiled by Bloomberg Markets magazine. CIBC, Royal Bank, Scotiabank and TD were ranked 3rd, 4th, 7th and 8th, respectively, on the »