Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Fintech platforms outpace bank brokerages in new survey Apr 9th
Fintech companies are leading in client satisfaction compared with self-directed brokerages at traditional banks, a new report shows. A JD Power survey on investor satisfaction found fintechs aren’t just winning on consumer satisfaction but are also perceived to be more innovative and equally .... More »
'This pace cannot last forever': 2 big banks sound alarm on Toronto house prices Mar 17th
Two big banks are waving red flags about Toronto housing prices, calling them "simply unsustainable" and a "bubble" in separate reports..... More »
The best GIC rates in Canada for 2024 Jun 5th
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The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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MoneySense is an award-winning magazine,.... More »
Getting a new reading on Canada's Jekyll-and-Hyde economy: Don Pittis + MORE May 24th
As the Bank of Canada offers its update on the economy and Canada's biggest commercial banks release results, here are five reasons why some economists say Canada's economy has turned gloomy again..... More »
Warning to caregivers: Expect a scavenger hunt + MORE Feb 24th
This story is part 3 in a series on financial caregiving for seniors. Read others in this series:
3 signs you need to take control of your parents’ finances
Caring for a parent? Get a power of attorney
Before my father was diagnosed with dementia, I had a 30,000-foot awareness of my f.... More »
Citi, JPMorgan, other big banks to pay $1.9B in tentative deal to settle price-fixing case
– canadianbusiness.com
NEW YORK, N.Y. – Twelve major banks have tentatively agreed to pay $1.87 billion to settle allegations that they colluded to fix prices and lock out competitors in the market for insurance-like products widely traded before the financial crisis, according to a lawyer for investors.
The deal, if finalized, would be one of the largest U.S. anti-trust settlements, said Daniel Brockett, a lawyer representing a Los Angeles pension fund among other plaintiffs. He said the final terms need to be hammered out, and a judge would still need to approve the deal.
Bank of America, JPMorgan Chase, Citigroup and other banks met secretly to kill proposals that would put the trading of these insurance-like products onto an exchange through which they could be bought and sold like stocks and their prices made more transparent, according to a complaint filed in U.S District Court in New York. In keeping trading private in a “rigged” market, the banks cheated investors out of billions of dollars, the complaint alleges…
The deal, if finalized, would be one of the largest U.S. anti-trust settlements, said Daniel Brockett, a lawyer representing a Los Angeles pension fund among other plaintiffs. He said the final terms need to be hammered out, and a judge would still need to approve the deal.
Bank of America, JPMorgan Chase, Citigroup and other banks met secretly to kill proposals that would put the trading of these insurance-like products onto an exchange through which they could be bought and sold like stocks and their prices made more transparent, according to a complaint filed in U.S District Court in New York. In keeping trading private in a “rigged” market, the banks cheated investors out of billions of dollars, the complaint alleges…
