Comments regarding the creation of a new framework for electronic fund transfers in Canada

While a better framework for electronic payments in Canada is urgently needed, the scope of the consultation currently held by the Department of Finance and the process it has put in place appear unlikely to lead to significant improvements. The process must allow for real debate and must therefore provide a fairly specific basis for discussion An effective framework must be based on a set of ...

Government Must Go Further with Reform of Income Trusts Consumer Group Concludes

August 16, 2007 For immediate release Attention: News/Business Editors OTTAWA—Ordinary consumers and investors alike were ill-served by the financial rollercoaster ride of the income trust, says the Public Interest Advocacy Centre (PIAC) in a report released today. While supporting, in principle, the Conservative government’s introduction of a tax intended to place income trusts units and ...

Advocis/POLLARA Report on Canadian’s Views of Banks and Life and Health Insurance

Currently, restrictions prevent banks from selling life and health insurance from their branches. In order to understand the public’s views on this issue, Advocis commissioned POLLARA to conduct a telephone survey of the Canadian general public. The primary objective of this study is to explore Canadians’ attitudes toward the removal of consumer protections related to the sale of life and ...

CBA Research Report on Banks and Insurance: Canadian Attitudes toward Access to Insurance Information and Obligation to Purchase

The Canadian Bankers Association (CBA) today released the results of a poll that shows that, when it comes to shopping around for insurance, Canadians want to be more informed. Insurance salespeople and brokers have claimed that Canadians have enough insurance product information and that they would feel obligated to buy insurance from a bank source if they read a brochure or received a referral ...

Bank Mergers and the Public Interest

This report looks at the rules and legislation that govern mergers of large Canadian banks from the consumer point of view and assesses how large bank mergers would likely affect consumers in relation to issues of access, choice and price of banking services.

Bank Mergers Flash Presentation

Flash Presentation on Bank Mergers. PIAC and the law firms in the recent mortgage prepayment penalty class actions bring you this flash presentation on bank mergers (requires free Macromedia Flash Player). The presentation is available here.[flash file: 1.66mb]

Automatic Teller fees

Canadians Attitudes to Financial Services

National Survey conducted for PIAC by EKOS Research Associates on Canadians Attitudes to Financial Services [pdf file: 0.65mb]

PIAC comments on Ontario proposals for mutual fund disclosures

Stephen Paglia, Senior Policy Analyst Joint Forum Project Office 5160 Yonge Street, Box 85, 17th floor North York, ON, M2N 6L9 Telephone: 416-590-7054 fax: 416-590-7070 e-mail: spaglia@fsco.gov.on.ca BY EMAIL ONLY Dear Mr. Paglia: Comments on Joint Forum Proposals re: Disclosure System for Segregated Funds and Mutual Funds We have recently been made aware of the Joint Forum's ...

Submission to the Standing Committee on Finance

PIAC's submission to the House of Commons Standing Committee on Finance on the major considerations that should apply in determining the “public interest” in the bank merger review process.

“White-label” ATMs

“White-label” ATMs: ‘taking away' consumers' cash as fast as they're ‘giving it out' By Sue Lott – Counsel, Public Interest Advocacy Centre Have you had the experience recently of being in a strange town or city (or maybe even your own), needing cash and trying unsuccessfully to find an automatic teller machine (ATM) from your own bank? Out ...

Speaking Notes on Bill C-38

Speaking Notes Before the House of Commons Standing Committee on Finance Public Interest Advocacy Centre barrados@web.ca www.piac.ca Thank you for inviting us to present our views on Bill C-38 to the committee. First I'll say a few words about the Public Interest Advocacy Centre (PIAC). PIAC is a non-profit organization which provides legal services and research to Canadian consumers ...

Rural Bank Branch Closures

Letter to Finance Minister about Rural Bank Branch Closures. Hon. P. Martin P.C., M.P. Minister of Finance, Department of Finance, 21st floor, 140 O’Connor Street, Ottawa, Ontario, K1A 0G5 Dear Minister Martin, Please find enclosed a copy of our most recent report, Banking in Rural Canada: Ensuring that Rural Consumers Have Adequate Service. The key finding of this report is that ...

Comments on Bill C-38

Submission to the House of Commons Standing Committee on Finance Comments on Bill C-38 By: Public Interest Advocacy Centre 1204 – 1 Nicholas Street Ottawa, Ontario K1N 7B7 piac@web.net www.piac.ca Table of Contents About PIAC Introduction 1. Public Reporting on the Compliance Program 2. Monitoring of the Overall Consumer Protection Framework 3. Transparency and Openness 4. Branch ...

PIAC Applauds New Financial Sector Legislation

Consumer Group Applauds New Financial Sector Legislation, But Warns that Further Measures are Needed to Protect Consumers Last year, consumers organizations called on the government to implement a Consumer Charter for Financial Service Reform. “The new legislation is a good step foward in implementing the Consumer Charter,” said Angie Barrados, Researcher, Public Interest Advocacy ...

Financial Service Sector Reform

Letter to the Minister of Finance about Financial Service Sector Refrom (December 15, 1999) Hon. P. Martin P.C., M.P. Minister of Finance, Department of Finance, 21st floor, 140 O'Connor Street, Ottawa, Ontario, K1A 0G5 Dear Minister Martin, Re: Reform of the Financial Services Sector This letter is to urge you to take action to ensure that the financial sector reform is in fact a ...

Negative Option Marketing

SPEAKING NOTES BEFORE THE HOUSE OF COMMONS STANDING COMMITTEE ON INDUSTRY – BILL C-276 BY: Michael Janigan Executive Director/General Counsel of the Public Interest Advocacy Centre (PIAC) We would first like to extend our thanks to the chair and members of this committee for extending an invitation to speak to this issue which has long tried the patience of consumer advocates. We ...

Time to cut up your debit card?

Letter to the Minister of Finance about “No-Name” Bank Machines (October 12, 1999) Hon. P. Martin P.C., M.P. Minister of Finance, Department of Finance, 21st floor, 140 O'Connor Street, Ottawa, Ontario, K1A 0G5 Dear Minister Martin, It has come to our attention recently that Ano-name@ or Awhite-label@ automated teller machines (ATMs) are appearing at more and more ...

Consumers Benefit Through New Federal Banking Policies and Regulation

Hotwire Article For years, PIAC and other public interest groups in Canada have advocated greater consumer rights and protection in the financial services sector in Canada. These efforts have met with considerable success with the announcement by the Minister of Finance on June 25 of a new policy and regulatory framework for Canada's banking system. Key benefits for consumers ...

Future of the Canadian Financial Services Sector

Public Interest Advocacy Centre Comment on The Taskforce on the Future of the Canadian Financial Services Sector Report A. General Overall, PIAC strongly supports the consumer-oriented recommendations of the Taskforce. While we may recommend some modest changes Taskforce's recommendations, we view the Taskforce recommendations as setting out a positive blueprint for consumers in the ...