FCAC publishes Report on Best Practices in Financial Consumer Protection
The working group will collaborate on developing new programs and initiatives, and identify research priorities
Canada ranks third globally on financial knowledge, attitudes and behaviour
The committee members will work broaden stakeholder engagement beyond traditional players
The consumer watchdog reviewed business practices across Canada’s Big Six banks
Feds also aim to modernize the deposit insurance system and implement a framework for resolving systemically important financial market infrastructure firms
The federal agency announced the review in March
Financial institutions reimbursed $10.5 million to 1.2 million consumer accounts last year
The two regulators aim to bolster investor protection
The April review will focus on recent allegations related to financial institutions’ sale of products and services to clients