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Banks face tougher charges and more disclosure in new report
Canadian observers report the House of Commons finance committee led by Don Blenkarn is drafting a strong critique urging banks to be more responsible. MPs seek better disclosure of fees, free basic services, an ombudsman for consumer complaints, and possible fee rollbacks, in response to widespread anger at unadvertised charges. The piece highlights Bank of Montreal’s new service charge policy and contrasts it with Royal Bank and Bank of Nova Scotia, noting plans for basic and Gold plans and NSF penalties in personal accounts.
MENTIONED IN THIS ARTICLE
House of Commons Finance Committee
Don Blenkarn
Feds
Bank of Montreal
The
Royal
BeeMo
FirstBank
Bank of Commerce
Toronto
Michael MacDonald
CIBC
MacDonald