Learn more about Canada’s top banks rates, rules and the latest news – read on!
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Against the odds: Why customers often lose in battles with banks Feb 12th
The complaints system is stacked against banking customers say consumer advocates, who believe the process is designed to wear people down and that it most often finds in favour of the banks..... More »
Recovering from GIC sticker shock Jan 15th
If you’re a retiree or near-retiree relying on GICs for your fixed-income investments, no doubt you’re facing GIC sticker shock as previously invested GICs are reaching maturity. If before you were getting 2% to 3% on 2-, 3-, 4- or 5-year GICs, you may be shocked to discover you’ll be lucky to.... More »
CBC, Radio-Canada to eliminate 800 jobs and some programming amid 'budget pressures' - National Post + MORE Dec 4th
CBC, Radio-Canada to eliminate 800 jobs and some programming amid 'budget pressures' National PostCBC/Radio-Canada to cut 10 per cent of workforce, end some programming as it faces $125M budget shortfall CBC NewsCBC says it is cutting 600 jobs, some programming as it slashes bu.... More »
The best credit cards in Canada for 2024 + MORE Apr 3rd
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The best credit cards in Canada for 2024
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What are Bank of Canada Rates? + MORE Apr 30th
You’ve probably noticed that several times a year business reporters get excited about a pending announcement from the Bank of Canada on its “overnight lending rate”. They do so because any change in that figure can impact the interest rate the country’s banks charge their customers for.... More »
A Credit Card Conspiracy? Class Action Suit Targets Swipe Fees
– ratesupermarket.ca
A class action lawsuit in British Columbia claims Visa, MasterCard and the major banks are conspiring to keep transaction costs high for retailers. Such costs are swipe fees paid by retailers to credit card companies and banks every time a shopper uses a credit card to make a purchase. The fees start at 1.8 per cent but can be as high as 4 per cent for some premium cards according the Canadian Federation of Independent Businesses (CFIB).
Are Credit Card Lenders Breaking the Law?
In official documents filed to the Supreme Court of British Columbia by a furniture retailer in Vancouver, it’s stated 12 separate financial institutions, including Visa, MasterCard and Canada’s big banks, “unlawfully interfered with the economic interests of merchants.” It adds “…the defendants have breached various provisions of the Competition Act,” and have “engaged in civil conspiracies, and unlawfully interfered with the economic interests of the proposed class members.” In other words, the suit accuses credit companies are working together to keep fees high across the board…
A Credit Card Conspiracy? Class Action Suit Targets Swipe Fees
– ratesupermarket.ca
A class action lawsuit in British Columbia claims Visa, MasterCard and the major banks are conspiring to keep transaction costs high for retailers. Such costs are swipe fees paid by retailers to credit card companies and banks every time a shopper uses a credit card to make a purchase. The fees start at 1.8 per cent but can be as high as 4 per cent for some premium cards according the Canadian Federation of Independent Businesses (CFIB).
Are Credit Card Lenders Breaking the Law?
In official documents filed to the Supreme Court of British Columbia by a furniture retailer in Vancouver, it’s stated 12 separate financial institutions, including Visa, MasterCard and Canada’s big banks, “unlawfully interfered with the economic interests of merchants.” It adds “…the defendants have breached various provisions of the Competition Act,” and have “engaged in civil conspiracies, and unlawfully interfered with the economic interests of the proposed class members.” In other words, the suit accuses credit companies are working together to keep fees high across the board…
Justice Puts Banks in a Choke Hold
– online.wsj.com
A new probe goes after the lenders that help law enforcement fight fraud.
