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Latest News
Here’s how to protect your portfolio if interest rates go negative + MORE Apr 7th
Denmark’s central bank, seen here, charges its depositors reverse interest rates. (Ulrik Jantzen/Bloomberg/Getty)
A few years ago, the notion of negative interest rates was a purely academic discussion. But after the Bank of Canada said in December that its overnight rate could fall below zero—a.... More »
The North and the great Canadian lie Sep 12th
Main Street of the hamlet of Sachs Harbour on Banks Island in the Northwest Territories. (Erika Larsen/Redux)
We are not a northern nation, and we need to stop lying to ourselves that we are.
More people live in Moose Jaw than live in the Yukon. Compared to other Arctic regions, Canada has done so l.... More »
From banking to booze: Ontario gets its first ombudsman for beer Dec 23rd
TORONTO _ A former ombudsman at one of Canada’s big banks has been tapped to investigate complaints of a far more frothy nature: beer.
The Beer Store has appointed Charles Dougall as Ontario’s first beer ombudsman.
The foreign-owned consortium, which operates more than 470 retail outlets.... More »
At midday: TSX jumps on broad rally led by banks, resource stocks + MORE Nov 21st
Tech stocks lift Wall Street to record high
.... More »
BMO first of big banks to launch robo-advisor service + MORE Jan 18th
TORONTO – The Bank of Montreal has launched an online portfolio manager, making it the first of the big five Canadian banks to wade into the “robo-adviser” business.
After a trial run that started on Dec. 7, the service — dubbed SmartFolio — is available to all investors starting Monday.
W.... More »
A Credit Card Conspiracy? Class Action Suit Targets Swipe Fees
– ratesupermarket.ca
A class action lawsuit in British Columbia claims Visa, MasterCard and the major banks are conspiring to keep transaction costs high for retailers. Such costs are swipe fees paid by retailers to credit card companies and banks every time a shopper uses a credit card to make a purchase. The fees start at 1.8 per cent but can be as high as 4 per cent for some premium cards according the Canadian Federation of Independent Businesses (CFIB).
Are Credit Card Lenders Breaking the Law?
In official documents filed to the Supreme Court of British Columbia by a furniture retailer in Vancouver, it’s stated 12 separate financial institutions, including Visa, MasterCard and Canada’s big banks, “unlawfully interfered with the economic interests of merchants.” It adds “…the defendants have breached various provisions of the Competition Act,” and have “engaged in civil conspiracies, and unlawfully interfered with the economic interests of the proposed class members.” In other words, the suit accuses credit companies are working together to keep fees high across the board…
A Credit Card Conspiracy? Class Action Suit Targets Swipe Fees
– ratesupermarket.ca
A class action lawsuit in British Columbia claims Visa, MasterCard and the major banks are conspiring to keep transaction costs high for retailers. Such costs are swipe fees paid by retailers to credit card companies and banks every time a shopper uses a credit card to make a purchase. The fees start at 1.8 per cent but can be as high as 4 per cent for some premium cards according the Canadian Federation of Independent Businesses (CFIB).
Are Credit Card Lenders Breaking the Law?
In official documents filed to the Supreme Court of British Columbia by a furniture retailer in Vancouver, it’s stated 12 separate financial institutions, including Visa, MasterCard and Canada’s big banks, “unlawfully interfered with the economic interests of merchants.” It adds “…the defendants have breached various provisions of the Competition Act,” and have “engaged in civil conspiracies, and unlawfully interfered with the economic interests of the proposed class members.” In other words, the suit accuses credit companies are working together to keep fees high across the board…
Justice Puts Banks in a Choke Hold
– online.wsj.com
A new probe goes after the lenders that help law enforcement fight fraud.
