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?
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Canadian banks not ready to call end to oil uncertainty just yet Sep 5th
The biggest banks set aside considerably less money in the third quarter to cover bad loans than they did in the previous quarter, easing concerns about their exposure
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The best GIC rates in Canada for 2025 + MORE Dec 16th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Texas man who possessed 7 per cent of all bitcoins pleads guilty in NY to securities fraud + MORE Sep 22nd
NEW YORK, N.Y. – A man involved in what federal authorities have described as the first bitcoin securities fraud case pleaded guilty on Monday.
Trendon Shavers, of McKinney, Texas, pleaded guilty in New York to a count of securities fraud on his 33rd birthday. He told U.S. Magistrate Judge Sar.... More »
Business Highlights Aug 8th
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Steady US job gains likely foretell a new era: Higher rates
WASHINGTON (AP) — A new era of higher rates on home and car loans, steeper borrowing costs for businesses and the government — maybe even a bit more return for savers — is about to arrive.
That, at least, is the word from most eco.... More »
Stock markets fall into bear market territory after Mnuchin and Trump stoke worries Dec 25th
Stock markets sold off on Monday after U.S. Treasury Secretary Steven Mnuchin called the heads of six major U.S. banks Sunday in an apparent attempt to reassure jittery financial markets — but ended up only stoking investor fears..... More »
Marijuana industry celebrates federal guidance on banking, but institutions remain wary
– canadianbusiness.com
SEATTLE – For marijuana dispensaries around the country, the days of doing business in cash — driving around with bill-stuffed envelopes to pay the rent, or showing up at a state revenue office with $20,000 in paper bags for the tax man — can’t end soon enough.
It’s not clear that the Obama administration’s new guidance on pot-related banking is going to end them.
The Justice and Treasury Departments on Friday issued banks a road map for doing business with marijuana firms. The security-wary pot industry, including recreational shops in Colorado and medical marijuana operators elsewhere, welcomed the long-awaited news, but banking industry groups made clear that the administration’s tone didn’t make them feel much easier about taking pot money.
The banks were hoping the announcement would relieve them of the threat of prosecution should they open accounts for marijuana businesses, Don Childears, president of the Colorado Bankers Association, said in a written statement…
It’s not clear that the Obama administration’s new guidance on pot-related banking is going to end them.
The Justice and Treasury Departments on Friday issued banks a road map for doing business with marijuana firms. The security-wary pot industry, including recreational shops in Colorado and medical marijuana operators elsewhere, welcomed the long-awaited news, but banking industry groups made clear that the administration’s tone didn’t make them feel much easier about taking pot money.
The banks were hoping the announcement would relieve them of the threat of prosecution should they open accounts for marijuana businesses, Don Childears, president of the Colorado Bankers Association, said in a written statement…
