Financial Services
PIAC Letter to Minister of Finance re: Toronto Dominion’s Withdrawal from the Ombudsman for Banking Services and Investments
Friday, Oct 28, 2011Dear Minister Flaherty: The Public Interest Advocacy Centre (PIAC) is a non-profit organization that provides legal and research services on behalf of consumer interests, and, in particular, vulnerable consumer interests, concerning the provision of important public services. PIAC is deeply disappointed and alarmed by TO Bank Group’s (TO) decision this week to withdraw its unresolved ...
Objection to the proposed incorporation of Rogers Communications Inc. to carry on the business of banking in Canada
Thursday, Oct 27, 2011Objection to the proposed incorporation of Rogers Communications Inc. to carry on the business of banking in Canada As per s. 26(1) of the Bank Act, PIAC submits this letter to the Superintendent as an objection to the proposed incorporation of Rogers to carry on the business of banking in Canada. Full text of the letter: Download File: piac_letterofobjection_rogers_bank_final.pdf [size: ...
An open letter to the G20 finance ministers and G20 leaders from Consumers International
Tuesday, Oct 11, 2011Dear G20 finance ministers and G20 leaders, During your meetings in France over the next two weeks, the global financial crisis and economic instability will no doubt be top of your agenda. However, we urge you to remember that weak consumer protection in the form of irresponsible mortgage lending was both a catalyst for this crisis, and is a long-standing concern of ‘ordinary people’ who ...
PIAC Comments on the OBSI Consultation Paper Suitability and Loss Assessment Process
Tuesday, Jul 26, 2011PIAC has reviewed the suitability and loss calculation methodology of the Ombudsman for Banking Services and investments (OBSI) and we make the following comments from the conviction that the OBSI approach is not only defensible but is a decided benefit to firms and consumers. Read the full comments: Download File: piac_comments_obsi_suitability_loss_assessment_final.pdf [size: 0.1 ...
Consumers need more comprehensive protection against late payment penalties
Wednesday, Jan 05, 2011(OTTAWA)— The Public Interest Advocacy Centre (PIAC) today released a 53-page report entitled “A Criminal Rate of Interest: Updating Garland for Consumers” that provides legal updates to the interpretation of usury provisions of the Criminal Code since the Supreme Court of Canada ruled in Garland v. Consumers Gas Co. in 1998 that the definition of “interest” is broad and a late payment ...