Less diversified, riskier loan portfolios leave banks more vulnerable to downturn
High-level management shifts occurred at several notable firms
Alex Lucas, head of individual insurance, takes over this March
Hours spent worrying increased 25% over the last year
According to a poll from Manulife Bank, 75% of adults in Canada say they can’t afford a home
Two-thirds assume everybody is struggling with debt
Almost all Canadians agree the average household is in too much debt, research finds
The penalty was significant as it was the first time FINTRAC has penalized a bank since it was given the authority to issue administrative monetary penalties in December 2008
Bank reconsiders after consulting with Finance Dept.
Availability of trust services may help bank in serving high net-worth clients at some point