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Posts Tagged ‘canadian bankers association’

Flaherty Warns to Respect Voluntary Code

Sunday, November 22, 2009, 15:52
Carousel, Credit Cards, Master Card, News, VISA
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Federal Finance Minister Jim Flaherty warned companies and banks that if they do not comply with a proposed voluntary code of conduct for the credit and debit card markets, he will be bring down the “hammer” of regulation. The code, which is designed to address merchants’ claims they are being unfairly treated, draws ... Full story

Tags: Bank of Montreal, bank of montreal mastercard, canadian bankers association, card readers, chip card, competitive marketplace, consumer choice, credit card giants, debit card markets, debit cards, federal finance minister, finance minister jim flaherty, global credit card, interac association, maestro, market competition, payment processors, voluntary code

Flaherty Pressed to Get Tougher on Behalf of Merchants

Tuesday, November 3, 2009, 10:00
Carousel, Credit Cards, News
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Finance Minister Jim Flaherty has to raise consumer and merchant protections in the multi-billion dollar credit and debit market, by rooting out a slew of controversial industry practices, which includes double cycle billing, notes members of the Liberal caucus on Nov. 2nd. The voluntary code of conduct that Flaherty is bringing ... Full story

Tags: business groups, canadian bankers association, card acceptance, code of conduct, credit card statements, dollar credit, finance minister jim flaherty, interac association, interest rates, liberal caucus, maestro, retail council of canada, visa canada, voluntary code

Interac’s Proposal Brings Down Resistance

Wednesday, October 28, 2009, 6:00
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Business opposition is suddenly dissipating as a proposal made by Interac Association to become a for-profit company as Visa and MasterCard begin bringing out their debit products in Canada. Retailers and small business owners were once wary of the proposed restructuring, have now dropped any plans to intervene at the Competition Bureau now ... Full story

Tags: canadian bankers association, canadian imperial bank of commerce, CIBC, competition bureau, debit products, debt market, first visa, profit company, Royal Bank of Canada, shared network, small business owners, visa debit cards

Knowing Your Banks: HSBC Bank Canada

Wednesday, September 2, 2009, 10:29
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With the ``Big Six`` out of the way, it is time to speak about many of the other great banks that are in Canada. What will be spoken about today is the HSBC Bank Canada. The Hongkong and Shanghai Banking Corporation (HSBC) is one of the largest banking groups in the world and HSBC Canada is one ... Full story

Tags: atm usage, bmo bank of montreal, brokerage division, canada deposit insurance, canada deposit insurance corporation, canadian bankers association, cdic, deposit insurance corporation, discount brokerage, great banks, hongkong bank of canada, hsbc bank canada, hsbc canada, investdirect, shanghai banking corporation, toronto dominion bank, vancouver british columbia

Calling for a “Watchdog” for Credit Card Rates

Wednesday, July 1, 2009, 7:47
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The Senate committee has begun to call on Flaherty to find a "watchdog" to oversee the credit and debate industries because the federal government has so far failed to restraint the climbing interest rates and fees.This recommendation is directed towards Flaherty' recent announment proposal to regulate credit cards; the Senate is arguing ... Full story

Tags: canadian bankers association, credit card balance, credit card options, credit cards, federal government, interac, interest rates, mastercard canada, senate committee, senate report, unintended consequences, visa canada, watchdog

Canadian Banks are wary of New Credit Card Regulations

Saturday, May 23, 2009, 7:16
Credit Cards, News
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Canadian banks are warning consumers that new regulations are forcing them to beef up disclosure and provide a standardized grace period on credit cards. This will be costly for the industry and may have unintended consequences which includes curtailed access to credit for consumers.The Canadian Bankers Association issued caution after Finance ... Full story

Tags: canadian bankers association, canadian banks, finance minister jim flaherty, grace periods, low interest credit card, minimum payments

What is the Bank of Canada?

Thursday, April 9, 2009, 10:00
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The other day I was asked exactly what does the Bank of Canada do? This person was upset that this "bank" does not give out chequing accounts. Well ladies and gentleman I shall, yes I just said shall. Clarify the big misconception with the Bank of Canada. Most consumers who are ... Full story