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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Making sense of the markets this week, October 31, 2021 Oct 30th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Scotiabank says 8 rate hikes are on the way
Scotiabank’s Derek Holt shared that we could see eight rate hikes in Canada over the next two years. That is ag.... More »
Coast Capital Savings Credit Union Review Nov 13th
Coast Capital Savings is a BC-based credit union with a long history dating back to the 1940s. As a federally chartered credit union, it has expanded its services to members across Canada, offering a wide range of personal banking products and services.
If you’re unfamiliar with Coast Capital,.... More »
Highlights from Alberta budget 2020 - Global News + MORE Feb 27th
Highlights from Alberta budget 2020 Global NewsThousands march to legislature in protest of Budget 2020 CTV NewsBudget 2020: Health budget sees doubling of private clinic surgeries, deductibles on seniors drug plan CBC.caAlberta budget banks on critical revenue boost.... More »
The best charities to donate to for impact in Canada for 2023 Nov 8th
“Return on investment.” It’s a phrase many Canadians are familiar with in terms of business decisions and investment portfolios. But it’s not necessarily top of mind when people choose a charity to donate to. And that’s understandable. Canadians support charities for a lot of different rea.... More »
Scotiabank's playbook: More deals in Latin America + MORE Jun 5th
As the Canadian lender targets a slightly smaller regional rival to hit that 10-per-cent market-share threshold, the bank is working through a relatively short list of takeover targets – approximately a dozen banks in both Mexico and Chile fit the bill
.... More »
Credit Suisse lands ex-Morgan Stanley managing director
– theglobeandmail.com
Quick courtship of veteran investment banker Ram Amarnath a sign of the importance investment banks attach to covering Canada’s private-equity firms and pension plans
In February 2016, Gerald Soloway announced he was stepping down as CEO of Home Capital Group, a mortgage provider he co-founded 30 years ago. Home Capital, based in Toronto, is an alternative or non-prime lender, issuing mortgages to people generally turned away by traditional banks, such as the self-employed or new Canadians with a limited credit history. “The team at Home Capital today is second to none,” Soloway said in a press release. “I know that the company is in great hands, and I am very confident in their ability to take Home Capital to new heights.”
Since then, the company’s share price has plummeted 78 per cent, the deposits it relies on for funding are quickly evaporating and Home Capital’s future is in doubt. The problems started in July 2015, when the firm disclosed it had cut ties with 45 mortgage brokers after an internal investigation revealed that borrower income and employment information had been falsified in order to obtain loans. In April, the Ontario Securities Commission accused the company and three executives, including Soloway, of misleading investors for failing to disclose the impact of the investigation for months…
