Banking

Helen Child, founder of Open Banking Excellence, a community of open finance developers. THE CANADIAN PRESS/HO

Big changes are coming to how Canadians bank, but adoption likely to be slow

Change will give consumers the choice to share banking data with other firms

 

Deputy Prime Minister and Minister of Finance Chrystia Freeland rises during Question Period, in Ottawa, Monday, Dec. 4, 2023. Finance Minister Chrystia Freeland has approved RBC’s $13.5-billion takeover of HSBC Canada despite calls from opposition politicians and other groups to block it.THE CANADIAN PRESS/Adrian Wyld

$13.5B RBC takeover of HSBC Canada gets federal stamp of approval

Finance Minister Chrystia Freeland greenlights deal, but with some caveats attached

 

Royal Bank of Canada signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. Royal Bank of Canada is once again defending its proposed takeover of HSBC Canada after Conservative Leader Pierre Poilievre called for the government to block the deal.THE CANADIAN PRESS/Andrew Lahodynskyj

Poilievre wants RBC’s $13.5B takeover of HSBC Canada blocked

Conservative leader says shrinking competitive field won’t help housing affordability

 

Finance Minister Chrystia Freeland has announced several steps the federal government is taking to make banking more affordable, which in part follow up to pledges made in the spring budget. Freeland, right and Innovation, Science and Industry Minister Francois-Philippe Champagne take part in a press conference in Ottawa on Tuesday, Oct. 17, 2023.THE CANADIAN PRESS/Sean Kilpatrick

Feds want more no-fee and low-cost banking in reform push

Financial Consumer Agency of Canada told to make banking more affordable for Canadians

Finance Minister Chrystia Freeland has announced several steps the federal government is taking to make banking more affordable, which in part follow up to pledges made in the spring budget. Freeland, right and Innovation, Science and Industry Minister Francois-Philippe Champagne take part in a press conference in Ottawa on Tuesday, Oct. 17, 2023.THE CANADIAN PRESS/Sean Kilpatrick
A proposed class action lawsuit has been filed against Toronto-Dominion Bank alleging it failed to pay or properly pay its mobile mortgage specialists vacation and/or public holiday pay on their commissions, volume bonuses and other variable payments. A person walks past a TD Bank sign in the financial district in Toronto on Tuesday, Sept. 20, 2022. THE CANADIAN PRESS/Alex Lupul

TD mobile mortgage specialists file class action suit

Case alleges more than 1,000 people did not receive their proper vacation and holiday pay

A proposed class action lawsuit has been filed against Toronto-Dominion Bank alleging it failed to pay or properly pay its mobile mortgage specialists vacation and/or public holiday pay on their commissions, volume bonuses and other variable payments. A person walks past a TD Bank sign in the financial district in Toronto on Tuesday, Sept. 20, 2022. THE CANADIAN PRESS/Alex Lupul
Na’moks, a spokesman for the Wet’suwet’en hereditary chiefs, holds a press conference in Smithers, B.C., Tuesday, Jan.7, 2020, on the one-year anniversary of RCMP enforcement of an injunction granted to Coastal GasLink. THE CANADIAN PRESS/Amy Smart
Na’moks, a spokesman for the Wet’suwet’en hereditary chiefs, holds a press conference in Smithers, B.C., Tuesday, Jan.7, 2020, on the one-year anniversary of RCMP enforcement of an injunction granted to Coastal GasLink. THE CANADIAN PRESS/Amy Smart
Canadians are making their final Registered Retirement Savings Plan contributions, in advance of the deadline. (Black Press Media file)

QUIZ: How much do you know about money and savings?

In January and February, Canadians make their final savings contributions for the tax year.

Canadians are making their final Registered Retirement Savings Plan contributions, in advance of the deadline. (Black Press Media file)
Witnesses saw the man get out of a white Hyundai in the 1600 block of Ellis and procede to smash several windows at a bank. (Black Press file photo)

Axe-wielding man smashes bank windows in downtown Kelowna

‘These types of unprovoked attacks on our local businesses are concerning to the RCMP’

Witnesses saw the man get out of a white Hyundai in the 1600 block of Ellis and procede to smash several windows at a bank. (Black Press file photo)
The town of Esquimalt has seen its only bank close down. (CP photo)

Esquimalt residents alarmed as town’s only bank closes

Residents say town is growing, but services are not

The town of Esquimalt has seen its only bank close down. (CP photo)
The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)

Banking regulator launches consultations on mortgage rules, proposes additions

Possible changes to existing stress test would aim to reduce overstretched borrowers

The Office of the Superintendent of Financial Institutions is considering strengthening Canada’s mortgage stress test. (The Canadian Press)
FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)

World Bank warning: Global economy is at risk of recession

Development funding institution forecasts third-weakest annual expansion in 30 years

FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)
Nature Conservancy Canada’s Boreal Wildlands project is seen in an undated handout photo. Banks know a growth market when they see it, and they’re increasingly seeing one in the buying, selling and generating of carbon offsets. THE CANADIAN PRESS/HO-Nature Conservancy Canada, Andrew Warren

Canadian banks readying for carbon offsets to go big, even as doubts remain

Global offsets market projected to grow from $1 billion to $50 billion by 2030

Nature Conservancy Canada’s Boreal Wildlands project is seen in an undated handout photo. Banks know a growth market when they see it, and they’re increasingly seeing one in the buying, selling and generating of carbon offsets. THE CANADIAN PRESS/HO-Nature Conservancy Canada, Andrew Warren
Maxwell Johnson (left) and members of the Heiltsuk Nation gathered outside the BMO on Burrard Street in Vancouver May 5 to announce a settlement has been reached after Johnson and his granddaughter were handcuffed outside the branch two years ago. (Jane Skrypnek/Black Press Media)

Heiltsuk man, granddaughter handcuffed outside Vancouver BMO reach settlement with police

VPD promises overhaul of police training, addressing of anti-Indigenous racism

Maxwell Johnson (left) and members of the Heiltsuk Nation gathered outside the BMO on Burrard Street in Vancouver May 5 to announce a settlement has been reached after Johnson and his granddaughter were handcuffed outside the branch two years ago. (Jane Skrypnek/Black Press Media)
A view of The Bank of England in London, Thursday, Sept. 22, 2022. Britain’s central bank is under pressure to make another big interest rate hike Thursday. Inflation in the United Kingdom is outpacing other major economies, but the U.S. Federal Reserve and other banks are moving faster to get prices under control. (AP Photo/Kirsty Wigglesworth)

Central banks worldwide tighten policies to cool inflation

Banks from the UK to Papan are following US lead on interest hikes

A view of The Bank of England in London, Thursday, Sept. 22, 2022. Britain’s central bank is under pressure to make another big interest rate hike Thursday. Inflation in the United Kingdom is outpacing other major economies, but the U.S. Federal Reserve and other banks are moving faster to get prices under control. (AP Photo/Kirsty Wigglesworth)
Bank towers are shown from Bay Street in Toronto’s financial district on Wednesday, June 16, 2010. Canada is banking on newcomers to help keep the economy humming along, while banks themselves are eying the hundreds of thousands of people coming to the country every year as a key source of client growth. THE CANADIAN PRESS/Adrien Veczan

Canadian banks look to newcomers as key source of client growth

Some banks forming partnerships with international ones to make transitioning to Canada easier

Bank towers are shown from Bay Street in Toronto’s financial district on Wednesday, June 16, 2010. Canada is banking on newcomers to help keep the economy humming along, while banks themselves are eying the hundreds of thousands of people coming to the country every year as a key source of client growth. THE CANADIAN PRESS/Adrien Veczan
Canadian banks will give some insight into where they see the economy going when they start to report this week, with analysts watching for trends in key indicators like loan growth, capital raising, and how much banks are putting aside in case loans go sour. The Bay Street Financial District is shown in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette

Canadian banks to report earnings amid rising interest rate environment

Analysts predicting growth in some areas, drop in others

Canadian banks will give some insight into where they see the economy going when they start to report this week, with analysts watching for trends in key indicators like loan growth, capital raising, and how much banks are putting aside in case loans go sour. The Bay Street Financial District is shown in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle

Bank of Canada hikes key interest rate by full percentage point

Inflation hit a 39-year-high of 7.7 per cent in May

Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa on Thursday, June 9, 2022. THE CANADIAN PRESS/ Patrick Doyle
Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)

Education urged for B.C. businesses in battling bogus bills

‘We have materials designed for everybody, and everything is absolutely free’

Bank of Canada analyst Farid Salji speaks to business owners about counterfeit bills at Kelowna RCMP headquarters. (Photo/Kelowna Cap News)
A woman uses her computer keyboard to type while surfing the internet in North Vancouver, B.C., Wednesday, Dec. 19, 2012. Businesses and other private-sector organizations would be required to report ransomware incidents and other cyberattacks to the government under a federal bill to be tabled today. THE CANADIAN PRESS/Jonathan Hayward

Key enterprises could face penalties under federal bill to bolster cybersecurity

New legislation targets telecommunications, finance, energy and transportation sectors

A woman uses her computer keyboard to type while surfing the internet in North Vancouver, B.C., Wednesday, Dec. 19, 2012. Businesses and other private-sector organizations would be required to report ransomware incidents and other cyberattacks to the government under a federal bill to be tabled today. THE CANADIAN PRESS/Jonathan Hayward
Bank towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. The long wait for shorter wait times on resolving bank complaints is almost over as part of a raft of updates to banking regulations set to come into force.THE CANADIAN PRESS/Adrien Veczan

New bank rules come into force this month but critics say they don’t go far enough

Rules include reducing liability on lost cards, requiring alerts when balances drop below $100

Bank towers are shown from Bay Street in Toronto’s financial district, on Wednesday, June 16, 2010. The long wait for shorter wait times on resolving bank complaints is almost over as part of a raft of updates to banking regulations set to come into force.THE CANADIAN PRESS/Adrien Veczan