Financial Services

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Consumers Group Calls for Increased Accountability from Financial Planners

Tuesday, March 26th, 2013
New PIAC report, “Purse Strings Attached: Towards a Financial Planning Regulatory Framework”

Competing Banking Ombudsmen Bad for Financial Consumers

Wednesday, August 15th, 2012
PIAC representations concerning the proposed Approved External Complaints Bodies (Banks and Authorized Foreign Banks) Regulations

Final Betrayal: Finance Minister’s Multiple Banking ADR Decision Harms Consumers

Friday, July 6th, 2012
The Public Interest Advocacy Centre (PIAC) today condemned the Minister of Finance’s publication of draft regulations for “external complaints bodies” under the Bank Act.

Financial Consumers Betrayed by Finance Minister’s OBSI Decision

Tuesday, May 1st, 2012
The Public Interest Advocacy Centre (PIAC) today condemned the Minister of Finance’s assertion made yesterday that the federal government will not require Canada’s banks to resolve banking customers’ disputes with the Ombudsman for Banking Services and Investments (OBSI).

Change data breach bill to notify more consumers, New PIAC report

Thursday, January 5th, 2012
The report examines data breach notification in Canada in the private sector in general and in particular whether the proposed federal data breach notification law (Bill C-12) is adequate to protect Canadian consumers.

PIAC Letter to Minister of Finance re: Toronto Dominion’s Withdrawal from the Ombudsman for Banking Services and Investments

Friday, October 28th, 2011
Minister Must Act to Protect Canadian Banking Customers

Objection to the proposed incorporation of Rogers Communications Inc. to carry on the business of banking in Canada

Thursday, October 27th, 2011
Objection to the proposed incorporation of Rogers Communications Inc. to carry on the business of banking in Canada

An open letter to the G20 finance ministers and G20 leaders from Consumers International

Tuesday, October 11th, 2011
Dear G20 finance ministers and G20 leaders...

PIAC Comments on the OBSI Consultation Paper Suitability and Loss Assessment Process

Tuesday, July 26th, 2011
PIAC 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.

Consumers need more comprehensive protection against late payment penalties

Wednesday, January 5th, 2011
Report 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 penalty could be construed as “interest” on an advancement of credit.
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