The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
Latest News
The Latest: Greek Refiner Denies Rumors of Fuel Shortages - New York Times + MORE Jun 28th
Los Angeles TimesThe Latest: Greek Refiner Denies Rumors of Fuel ShortagesNew York TimesATHENS, Greece — The latest developments on Greece's bailout negotiations (all times local): ___. 00:05 a.m.. Spooked by rumors concerning impending fuel shortages, drivers are flooding gas stations across.... More »
Richard J. Parsons: Sending a Bad Message to Big Banks Oct 21st
The feds' hypocrisy about J.P. Morgan's takeover of Bear Stearns will make other banks wary in the next crisis..... More »
Head of China’s 4th largest state-owned bank resigns, citing personal reasons Dec 5th
BEIJING, China – The head of China’s fourth-largest state bank has resigned citing personal reasons.
No other details have been given about the departure of Agricultural Bank of China president Zhang Yun. The resignation of the 56-year-old executive comes amid an ongoing campaign against.... More »
As Expected: Bank of Canada Maintains 1% Overnight Rate + MORE Dec 6th
In its last announcement for the year, the Bank of Canada revealed it is leaving its benchmark interest rate unchanged at one per cent. This comes after the Bank raised rates twice in 2017 – once by a quarter point in July and again by a quarter point in September.
None of the big five banks ha.... More »
What Canadian investors can learn from the BlackBerry story + MORE Nov 10th
If you missed the acclaimed movie BlackBerry in theatres, it’s airing on CBC and streaming on CBC Gem as a three-part series—with additional scenes—beginning November 9. The limited series chronicles the making and unmaking of Canada’s global technology champion of the early 21st century. En.... More »
Beware The Latest Low Interest Credit Card Scam
– ratesupermarket.ca
While it usually pays to be an informed shopper who seeks out the lowest interest rates, a new credit scam is targeting savvy deal hunting Canadians. For a fee, these fraudsters are promising unaware customers low interest credit card rates, while at the same time collecting highly sensitive personal data. The Financial Consumer Agency of Canada (FCAC) is warning Canadians to be cautious when giving out sensitive information over the phone or online. A major red flag is the fee charged for these interest rates; no legitimate institution would charge you for a low interest card.
Be Wary Of Interest Rate Offers
To set up the scam the fraudster calls or sends an email to a possible victim promising to secure them a credit card with an interest rate lower than they could get at a bank or financial institution. For their service they charge a fee. If the person falls victim they have lost out twice – first, by giving away sensitive information to a person who is going to use it for no good and secondly for paying a fee for a false service…
