Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
When banks cash your same cheque twice, you may be on the hook to pay Apr 2nd
Business owners Stefan Marten and Pearl Scott-Marten had to fight to get money back from their credit union after several of the couple's employees cashed their paycheques twice using increasingly popular banking apps that allow cheques to be deposited with a photo..... More »
At the open: TSX ticks higher as resource stocks gain, banks weigh + MORE Aug 18th
Wall Street flat as Fed divided on rates
.... More »
Should You Give Your Teen a Credit Card? Dec 16th
Over one-third of Canadians share a joint credit card with their partner, parent, or child, according to a recent survey conducted by Rates.ca. Among the parents who share their credit card with their children, 63% said that managing their children’s purchases is less difficult than it was two ye.... More »
What You Need to Know About the Canadian Mortgage Stress Test Nov 5th
In late 2017, OSFI, the agency that supervises and regulates Canada’s banks, unveiled a new mortgage stress test, designed to protect Canadian borrowers from increasing debt burdens, and the prospect of rising interest rates. It also served to cool off a couple of Canada’s most expensive housing.... More »
Can challengers like EQ Bank and Wealthsimple take on the big banks? Sep 26th
It’s not easy going up against Canada’s banking oligopoly, but some are trying.
Challengers like EQ Bank and Wealthsimple are rolling out new and cheaper offerings, growing their base and gaining brand recognition. But experts say that rather than creating a disruptive threat to the big banks.... More »
Putin says the sanctions against Russia could hurt Western businesses and Ukraine
– canadianbusiness.com
MOSCOW – Russian President Vladimir Putin has warned that Western sanctions against his country could backfire.
Speaking in an interview with German ARD television broadcast Saturday as he was attending the Group of 20 summit in Brisbane, Australia, Putin said that cutting Russian access to capital markets would hurt Western exports.
“If the resources of our financial institutions are cut off, they can extend fewer loans to the Russian companies that work with German partners,” he said. “Sooner or later, it will begin to affect you as much as us.”
He also said the sanctions could hurt some Russian banks, leading them to demand repayment of multibillion loans they have given to Ukraine, damaging its economy. Putin cited Russia’s state-controlled Gazprombank, which he said issued loans worth $3.2 billion to Ukraine before being hurt by Western sanctions that barred it from borrowing in capital markets.
The United States and the European Union have targeted Russia with sanctions over its annexation of Ukraine’s Crimean peninsula and Moscow’s support for a pro-Russian insurgency in Ukraine…
Speaking in an interview with German ARD television broadcast Saturday as he was attending the Group of 20 summit in Brisbane, Australia, Putin said that cutting Russian access to capital markets would hurt Western exports.
“If the resources of our financial institutions are cut off, they can extend fewer loans to the Russian companies that work with German partners,” he said. “Sooner or later, it will begin to affect you as much as us.”
He also said the sanctions could hurt some Russian banks, leading them to demand repayment of multibillion loans they have given to Ukraine, damaging its economy. Putin cited Russia’s state-controlled Gazprombank, which he said issued loans worth $3.2 billion to Ukraine before being hurt by Western sanctions that barred it from borrowing in capital markets.
The United States and the European Union have targeted Russia with sanctions over its annexation of Ukraine’s Crimean peninsula and Moscow’s support for a pro-Russian insurgency in Ukraine…
Federal Reserve Bank in downtown Richmond marks 100th anniversary
– canadianbusiness.com
RICHMOND, Va. – The Federal Reserve Bank of Richmond is marking its 100th anniversary.
Officials say the Richmond Fed opened on Nov. 16, 1914, in downtown Richmond with 16 employees. It was one of 12 reserve banks that opened in regions across the country.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia.
Branch offices of the Richmond Fed opened in Baltimore in 1918 and in Charlotte in 1927. More than 2,200 people work in the office across the district.
The post Federal Reserve Bank in downtown Richmond marks 100th anniversary appeared first on Canadian Business.
Officials say the Richmond Fed opened on Nov. 16, 1914, in downtown Richmond with 16 employees. It was one of 12 reserve banks that opened in regions across the country.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia.
Branch offices of the Richmond Fed opened in Baltimore in 1918 and in Charlotte in 1927. More than 2,200 people work in the office across the district.
The post Federal Reserve Bank in downtown Richmond marks 100th anniversary appeared first on Canadian Business.
