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Credit Card Rules Being Changed

Credit Card Rules Being Changed
Canada’s watchdog is expected to issue rulings within a few days that could shake Canada’s credit card industry, payment processors are trying to lock into contract that could be hard to break as well. Federal Finance Minister Jim Flaherty is circulating a proposed voluntary code of conduct that would be ... Full story
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Flaherty Warns to Respect Voluntary Code

Flaherty Warns to Respect Voluntary Code
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
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Weekly News Watch 14

Weekly News Watch 14
The past week passed by quickly, or that might just be me. The news throughout the week was quite interesting but I will leave that discussion for the end. Household debt is growing larger in Canada, expanding more than 7% year over year. Driving household debt is low. Plan for Visa and MasterCard to ... Full story
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New Credit Card Changes Threaten Consumers

New Credit Card Changes Threaten Consumers
Currently, there are two bills before the Senate, which risk reducing competition in Canada’s multi-billion dollar debit and credit card markets, while driving up consumer fees through heavy handed regulation. Conservative MP Ted Menzies warns that ordinary Canadians would have to pay the price if the two pieces of legislation, which is faces ... Full story
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Scotiabank Launches ScotiaMocatta eStore

Scotiabank Launches ScotiaMocatta eStore
Scotiabank has launched an online store for buying precious metals, due to the increased customer demand for gold during the uncertainty fluctuations of the financial crisis. Scotiabank is the first bank in Canada to launch a full service online precious metal delivery channel through its ScotiaMocatta division; a global leader in precious metal trading, financing and physical ... Full story
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Chip Technology – Making payments more Secure

Chip Technology – Making payments more Secure
We can never be to safe, we have multiple locks on doors, alarm systems and some people take it to a level and install cameras in front of their door to see who there. Well banks have decided to add an extra security feature into credit cards. This is chip technology - ... Full story
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