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…»
Highlights / banks
Economy, International, Internet, Science and 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 and 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…»
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…»
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,…»
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…»
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…»
