Weekly News Watch 20

X

Hello there! You are new here, you might want to subscribe to our email Newsletter for our Daily Updates.

This week flew by pretty quick for me, especially since I was in bed most of the time fighting off a cold. Well that is behind me now and I am ready to report a summary of the events we saw this week.

There wasn’t any news on the two credit card giants, Visa and MasterCard coming into Canada’s debit market, in concerns to what the Finance Minister Jim Flaherty is doing with his voluntary code of conduct. I was hoping to see a finished copy released this week, or at least some sort of draft.

All we have to go on is that it is not strong enough on certain rules, but hopefully something will be released this week that will clear up the worrying that small businesses and merchants have been doing.

Recent data shows that in Ontario recover has not taken hold yet, but in the next it is expected to get much better. Not that many people did not expect this, however it is nice to see data showing it, but then again there have been countless times where data has been wrong.

I found this interesting, a global study released by TNS Canadian Facts show that Canadians are better prepared for financial emergencies than most people across the globe. However, Canadians are more prepared to use their credit cards in the face of an emergency. It is good that we are prepared, however piling on debt is not good in the long run.

With the week at an end, let us hope to see good news in the following week; I for one want to see more information released on the current situation with Visa and MasterCard coming into the debit market.

Related Posts

• Flaherty’s Voluntary Code of Conduct Tougher Than Expected
• Credit Card Industry on Notice
• Ottawa Urged to Clamp on Excessive Credit Card Rates
• Weekly News Watch 21
• Flaherty Warns to Respect Voluntary Code