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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Pas Herald
Location
The Pas, Manitoba, Canada
Date
May 03, 1967
Page
3
The Bank Act reshapes Canadian banking with tougher ownership limits, lower interest ceilings, and new lending powers. It allows banks to offer mortgages up to 75 percent of property value and aims to curb bank influence by restricting cross holdings while boosting competition with near banks.
A Teen argues against a price rise for dances, clarifying the plan to raise admission only due to a rent increase for the hall. Melvin G. Metzner, personal manager for The Fallen Angels, notes two dances were held with regular charges, counters the accusation of motive.
The Bank Act limits non resident ownership to 25 percent with a five year exemption for the Mercantile Bank, bought by U S bankers. The change aims to modernize banking and make banks operate more like regular businesses, seeking local patronage.
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