Banks Face Overhaul Debate After Trust Company Consolidation
The Finance Committee warns about corporate concentration in banking after Genstar merged Canada Trust with Canada Permanent, followed by Imasco’s takeover. They urge a strong policing agency with audit and prosecution powers to curb risks to depositors and competition. The panel challenges government assurances and signals potential shifts in policy and oversight.
MENTIONED IN THIS ARTICLE
Don Blenkarn
House of Commons Finance Committee
Feds
Genstar
Canada Trust
Canada Permanent
Imasco
Barbara McDougall
Canada Trust Board
Blenkarn
Canada
No non-financial company limits on financial ownership
Canadian Business argues for a hard cap of 30 percent on any non-financial company owning a financial institution, with 10 percent suggested. The piece notes political pressure, naming Imasco, Brascan, Trilon Financial, Royal Trust, and Royal LePage, and warns of concentrated power and weak safeguards. It urges passage of Blenkarn’s recommendation amid the influence of industry leaders and the banking sector.
MENTIONED IN THIS ARTICLE
McDougall
Mike Wilson
Imasco
Paul Pare
Trevor Eyton
Eyton
Brascan
Edward
Peter Bronfman
Trilon Financial
Royal Trust
Royal LePage
Blenkarn
Barbara McDougall
Alberta
Trilon
Ottawa
Genstar
Canada Trust
Graduate Karen Krysowaty Tops Advertising Arts
Karen P. Krysowaty graduates with highest standings in Advertising Arts as daughter of Nellie and the late Peter Krysowaty.
MENTIONED IN THIS ARTICLE
Karen P. Krysowaty
Karen
She
Nellie
Peter Krysowaty
Also Mentioned on This Page
Garth Turner
Toronto Sun
the Rossin Review
The
Rossburn
Manitoba
Nesbitt Publishing Ltd
the Review
Canadian Community Newspaper Association
Manitoba Community Newspaper Association
Manitoba Press Council
United States
Gregory Nesbitt
Michelle Gensiorek
Darrell Nesbitt
Shoal Lake
Tracy Peacock
Birtle
CCNA
Children’s Wear
Main St. N
Russell
Rae’s
Brian Eccles
George Lazaruk
Mike Jarema
Elphinstone
K.J. Drozda Ltd
Ken J. Droze
Man
Sims & Sims Law
Norman H. Sims
Elizabeth J. Sims
Main Street South
Minnedosa
Erickson
Rapid City
Strathclair
Auction Mart
Beef Commission
Barry Tochar
Phudu Fo OY Kodak
Spectrum Color Labs Inc
Selby
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