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
U.S. Fed gives okay to 30 banks to boost dividends, buy back shares + MORE Jun 29th
But the Fed gave Morgan Stanley only conditional approval because of what were considered weaknesses in its plans dealing with risks
.... More »
At midday: TSX lower as Home Capital, big banks weigh + MORE May 12th
Wall Street slips as retailer woes continue
.... More »
Bank of Montreal CEO Bill Downe to retire in October; successor is Darryl White + MORE Apr 8th
After more than a decade at the helm, the Bank of Montreal’s Bill Downe has announced plans to retire as CEO on Oct. 31.
He will be succeeded by Darryl White, who is currently the bank’s (TSX:BMO) chief operating officer.
In a statement issued Friday, BMO chairman Robert Prichard highlig.... More »
Business Highlights + MORE Nov 15th
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For ECB and Fed, Trump complicates decisions on rate policy
FRANKFURT, Germany (AP) — Donald Trump’s surprise election victory has helped solidify expectations for an interest rate increase next month by the U.S. Federal Reserve — but may have complicated a decision for the European Ce.... More »
Making sense of the markets this week: October 22, 2023 Oct 21st
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Big wins for big U.S. banks
If you’ve been betting against American consumers over the last few years, then you havenâ.... More »
Big Six banks add airbag in case of emergency
– theglobeandmail.com
Canada’s famously safe lenders are now even safer
77,000 foreign banks agree to share account information with IRS in tax evasion crack down
– canadianbusiness.com
WASHINGTON – More than 77,000 foreign banks have agreed to share information about U.S. account holders as part of a crackdown on offshore tax evasion, the Treasury Department said Monday.
The list includes 515 Russian financial institutions. Russian banks had to apply directly to the Internal Revenue Service because the U.S. broke off negotiations with Russia over an information-sharing agreement because of Russia’s actions in Ukraine.
Nearly 70 countries have agreed to share information from their banks as part of a U.S. law that targets Americans hiding assets overseas. Participating countries include all the world’s financial giants, as well as many places where Americans have traditionally hid assets, including Switzerland, the Cayman Islands and the Bahamas.
Under the law, foreign banks that don’t agree to share information with the IRS face steep penalties when doing business in the U.S. The law requires American banks to withhold 30 per cent of certain payments to foreign banks that don’t participate in the program — a significant price for access to the world’s largest economy…
The list includes 515 Russian financial institutions. Russian banks had to apply directly to the Internal Revenue Service because the U.S. broke off negotiations with Russia over an information-sharing agreement because of Russia’s actions in Ukraine.
Nearly 70 countries have agreed to share information from their banks as part of a U.S. law that targets Americans hiding assets overseas. Participating countries include all the world’s financial giants, as well as many places where Americans have traditionally hid assets, including Switzerland, the Cayman Islands and the Bahamas.
Under the law, foreign banks that don’t agree to share information with the IRS face steep penalties when doing business in the U.S. The law requires American banks to withhold 30 per cent of certain payments to foreign banks that don’t participate in the program — a significant price for access to the world’s largest economy…
