Banking

Industry

Financial services sector grew 28% in a decade: report

Find out why

By Staff |November 23, 2017

1 min read

Industry

Consumers want more digital communication from banks: survey

Canadian consumers want their banks to embrace the digital age.

By Staff |November 21, 2017

2 min read

Industry

BMO, Manulife adopt Alexa

Financial services companies are wasting no time adopting Amazon’s Echo smart speakers, which the tech giant announced would be coming to Canada in December. On Wednesday BMO and Manulife announced partnerships with Amazon that would allow customers to use its Alexa voice assistant for banking and benefits. BMO’s “skill” for the platform (a skill is […]

By Staff |November 16, 2017

1 min read

Market Insights

What to expect from China’s new leaders

Potential reforms could aim for financial stability over GDP targets

By Staff |October 27, 2017

2 min read

Bank customers reimbursed $10.5M, finds FCAC

In 2016-2017, financial institutions reimbursed $10.5 million to 1.2 million consumer accounts, reveals the annual report from the Financial Consumer Agency of Canada (FCAC). The reimbursement made up for inaccurate fee disclosure or interest rate calculations, or for incorrect charges to accounts. Read: Pro bono legal clinic backs wronged investors FCAC’s annual report also details […]

By Staff |October 6, 2017

1 min read

OSFI to finalize stricter mortgage lending guidelines

Stricter regulations aimed at tightening mortgage lending to take some of the risk out of the market will be finalized by the end of the month, the federal financial regulator said Tuesday. Final changes to the Office of the Superintendent of Financial Institutions’ (OSFI) residential mortgage lending guidelines, also known as B-20, will come into […]

3 min read

Why fintech has an incentive to be regulated: BoC paper

Fintech and blockchain technology have raised questions about whether the industrial organization of the financial system is ready for an overhaul. But according to Bank of Canada staff — who recently penned a discussion paper titled, “Fintech: Is This Time Different? A Framework for Assessing Risks and Opportunities for Central Banks” — fintechs have incentives […]

By Staff |July 25, 2017

2 min read

Credit unions fight back at banks’ exclusive use of industry terms

If your client has an account at a credit union, she might have to get used to some new terminology. That’s because the Office of the Superintendent of Financial Institutions (OSFI) is cracking down on who gets to use the words “bank,” “banker” and “banking.” The crackdown is part of Advisory 2017-01, which OSFI issued […]

By Staff |July 4, 2017

2 min read

CIBC, Royal Bank, TD report increased net income, AUM

For the second quarter, CIBC reports net income of $1.05 billion, compared with $941 million for the second quarter a year ago, and $1.41 billion for the prior quarter. Adjusted diluted earnings per share were $2.64, compared with $2.40 for the second quarter a year ago, and $2.89 for the prior quarter. Reported return on […]

4 min read