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.
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Churning Credit Cards: The Pros and Cons + MORE Oct 4th
Churning credit cards is a sport of sorts among rewards collectors, allowing some to redeem points to claim hotels and flights for next to nothing. Sounds pretty appealing – but what exactly is churning?
Churning is when you apply for multiple credit cards just to get the big signup bonuses bein.... More »
Motusbank Online Bank Launches With Low HELOC, Competitive GICs + MORE Apr 3rd
Motusbank, a subsidiary of Meridian Credit Union, has launched in Canada. First announced in February, a full range of banking and borrowing services are now available on its website, motusbank.ca.
As an online-only bank, Motusbank can be accessed via its mobile app on the Apple App Store and Googl.... More »
The close: TSX advances for fifth day as banks offset oil producers + MORE Dec 25th
Canadian stocks advanced for a fifth day and U.S. stocks closed slightly lower in a holiday-shortened trading session
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The best high-interest savings accounts in Canada for 2025 + MORE Sep 30th
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Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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Feds to review whether credit unions can use banking terms following outcry + MORE Aug 11th
Ottawa says it is reviewing whether credit unions should be allowed to use the terms "banks," "banker" and "banking" after the federal regulator that oversees financial institutions ordered them not to..... More »
European Court of Justice upholds ruling on central bank plan that helped stem crisis
– canadianbusiness.com
FRANKFURT – The European Court of Justice has delivered a ruling strengthening the European Central Bank’s hand in intervening in financial markets — backing that could come in handy amid fears Greece will default on its debts and possibly leave the 19-country euro currency union.
In a decision Tuesday in Luxembourg, the court upheld the ECB’s 2012 offer to buy the bonds of countries whose governments face excessive market borrowing costs. The offer has helped reassure markets — even though no country has used it. High borrowing costs can push a country to need a bailout package of rescue loans, as happened with Greece, Portugal and Ireland.
The offer was challenged by a conservative German lawmaker and others who argue the ECB overstepped its legal powers and strayed into using its monetary powers to lend financial aid to governments.
The court disagreed, saying the bond-purchase offer “falls within monetary policy and within the powers” of the European system of central banks with the ECB at its head…
In a decision Tuesday in Luxembourg, the court upheld the ECB’s 2012 offer to buy the bonds of countries whose governments face excessive market borrowing costs. The offer has helped reassure markets — even though no country has used it. High borrowing costs can push a country to need a bailout package of rescue loans, as happened with Greece, Portugal and Ireland.
The offer was challenged by a conservative German lawmaker and others who argue the ECB overstepped its legal powers and strayed into using its monetary powers to lend financial aid to governments.
The court disagreed, saying the bond-purchase offer “falls within monetary policy and within the powers” of the European system of central banks with the ECB at its head…
