Shaida Bandali, Hospital Worker, Accused Of Selling Maternity Patients' Info To RESP Salespeople + MORE Nov 25th

TORONTO – A former clerk at the Rouge Valley hospital group in southern Ontario has been charged following an investigation into the alleged misuse of confidential information from maternity patients.The Ontario Securities Commission says that between Jan. 1, 2010 and March 31, 2014 Shaida Bandali of Pickering engaged in trading in securities without being registered to do so.It’s alleged she breached the confidentiality policies of her employer by accessing, copying or distributing personal data of maternity patients to one or more Registered Education Savings Plan representatives.The financial regulator also alleges Bandali created investor lists using unauthorized access to such information and sold them to RESP agents for cash.The OSC confirmed Monday the alleged breaches occurred at the Rouge Valley Health System Centenary Hospital in Toronto.Bandali is scheduled to appear in court Dec. 12.

The world of personal finance can be overwhelming – with so many lenders, options and features to choose from, it can be challenging to make the perfect, customized plan for your money. That’s why this week, MoneyWise has put together a refresher guide to help you brush up on the basics, whether you’re choosing the right credit card, pondering your mortgage options, or setting up high interest savings. Read on to learn more.
In Credit Cards: Credit Card Tiers – Your Guide
Basic, Platinum, Infinite… credit card tiers can seem confusing – which level of card should you choose? Check out our guide to MasterCard and Visa tiers, and what fee structure, features and perks are included with each, plus our top picks in all categories.
Read Jaclyn’s Blog | Credit Card Tiers
In Mortgages: Reverse Mortgages – Why They’re an Expensive Option
What are reverse mortgages and how do they work? Many baby boomers turn to this finance product to free home additional cash – but that debt comes at a price…

Although he always thought his parents were doing ok in retirement, a friend of mine just got a big shock: His folks – now both in their mid-70s – seem to be running short of money.
They’re not visiting the food bank or taking in boarders, but rising costs and fairly modest pensions are starting to squeeze them in ways they never expected. They do, however, own a modest home worth about $290,000.
So, here’s the dilemma: should they sell and invest the proceeds in GICs or even an annuity, or pull some cash out of the house more gradually by taking out a reverse mortgage?
Would a Reverse Mortgage Make Sense?

Although it’s not an ideal solution given the costs, tapping their home’s value through HomEquity Bank’s CHIP program could make sense for this couple. Selling the home and moving elsewhere isn’t really an alternative. Nor is taking out a home equity line of credit since this requires monthly payments — something these folks want to avoid.
With a reverse mortgage loan collection is based on the home value, not on the borrower’s ability to repay…

Thanksgiving may have already come and gone in Canada, but that isn’t stopping retailers from trying to cash in on a U.S. holiday tradition: Black Friday and Cyber Monday. For the past few years retailers have brought the shopping event north of the border with much success.  In fact, it’s bigger than Boxing Day now! And Black Friday isn’t just an in store event – more Canadians are heading online to seek out their savings.
Canadians Plan to Spend More For Black Friday 2014

To say Black Friday and Cyber Monday have taken Canada by storm would be an understatement. Not only are a greater number of Canadians taking part, they’re spending more. A recent poll by shopping resource eBates uncovered some interesting information about how big Black Friday has become; 84 per cent of Canadians are shopping online and spending 17 per cent more on average in the past 12 months than in 2013.
With stagnant wage growth and a mediocre job market, you’d think many Canadians would be tightening their spending…

(Getty Images/Image Source)
Over the last few years critics have complained that fewer and fewer Canadians rely on personal savings for their down payment, preferring to get help from friends and other sources. But a new survey shows that this just isn’t the case.
Released in mid-November by the Canadian Association of Accredited Mortgage Professionals, the annual survey shows that the average down payment made by first-time homebuyers hasn’t changed much in the last three decades—bouncing between 20% and 22% since 1980. However, the source of that down payment has shifted over the years.
Before 1980, first-time homebuyers relied primarily on:
personal savings for the bulk of their down payment (54%)
gifts from family members (5%)
family loans (9%)
loans from financial institutions (26%)
loans from employers (1%)
other sources (4%)
withdrawals from an RRSP (2%)
Between 2010 and 2014, the source of down payment shifted:
personal savings for the bulk of their down payment (40%)
gifts from family members (11%)
family loans (6%)
loans from financial institutions (27%)
loans from employers (1%)
other sources (2%)
withdrawals from an RRSP (12%)
However, if you were to include withdrawals from RRSPs as part of savings, then there’s only been a 2% drop in the amount of personal savings used by first-time homebuyers to make a down payment—from 54% in pre-1980, to 52% in the 2010 to 2014 period…