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Posts Tagged ‘federal finance minister’

Credit Card Industry on Notice

Saturday, March 6, 2010, 8:51
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Ottawa is proposing legislation that would give the federal finance minister the authority to regulate the credit and debit card industry. Finance Minister Jim Flaherty has said that he will only use his new authority if the industry fails to comply with a proposed voluntary code of conduct. We have the government propose in budget documents giving the ... Full story

Tags: budget documents, canada, code of conduct, consumers, federal finance minister, finance minister jim flaherty, interchange fees, legislation, mandate, ottawa, small business owners, task force, VISA, voluntary code

Credit Card Rules Being Changed

Saturday, December 12, 2009, 8:58
Carousel, Credit Cards, Master Card, News, VISA
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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

Tags: allegations, competition bureau, credit card processors, debit card issuers, debit cards, domestic debt, federal competition, federal finance minister, federal watchdog, finance minister jim flaherty, interac network, landmark rulings, payment processors, profit association, profit business, visa canada, voluntary code

Ottawa Urged to Clamp on Excessive Credit Card Rates

Monday, November 30, 2009, 9:47
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A new report commissioned by the Consumers Association of Canada noted that Ottawa should be clamping down on any excessive interest rates and penalty fees charged by credit card issuers during the current review of the credit and debit card industry. The report goes to say that new microchip protected credit cards should ... Full story

Tags: consumers association of canada, credit card acceptance, credit card giants, credit card issuers, credit card payment, credit cards, debit and credit, debit card payments, federal finance minister, finance minister jim flaherty, global credit card, payment processors, premium credit, senate banking committee, senates, stakeholders, voluntary code

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 Wary on Global Recovery Seen so Far

Thursday, September 3, 2009, 9:29
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Finance Minister Jim Flaherty is unconvinced that recovery is self-sustainable or that the world has learned anything from the economic crisis. These are the messages the federal finance minister will be taking to the meeting with his G20 counterparts in London tomorrow as the world’s top government economic officials are meeting to discuss ... Full story