Canada Banking

Bank Branches Built For Millennials

David Lester | Posted 10.27.2015 | Canada Business
David Lester

Money isn't about numbers. It is about people, and values, and goals. The centre of a bank or for anyone coaching people to be better with their money should reflect that. It should be like a Home Depot for finances -- we can show you and cheer you on to do it yourself or be here for the hard stuff and take your hand when you need it

5 Reasons to Convince Your Parents to Get Out of Mutual Funds

Tea Nicola | Posted 10.24.2015 | Canada Business
Tea Nicola

We've all probably met a financial advisor who told us to buy a "balanced mutual fund," and hard sold their own company's "top performing" fund. They tell a good story, but do they really have our best interests at heart?

Why Students Should Take Time This Thanksgiving to Re-Evaluate Their Finances

Mandy Mail | Posted 10.08.2015 | Canada Living
Mandy Mail

After six weeks at school, students may be surprised by how much it actually costs to live independently. When I first moved out on my own, I was amazed by all the hidden costs. Living at home, my parents covered most expenses -- from groceries to toiletries -- and I never gave it a second thought.

How Does Canada Tax My Investments?

Tea Nicola | Posted 09.25.2015 | Canada Business
Tea Nicola

Albert Einstein once said, "The hardest thing in the world to understand is income taxes." -- you can rest assured that it is not a simple subject. Taxpayers are expected to understand it well enough to be able to make good decisions about our own financial situation. But if understanding basic income tax isn't enough of a headache, the taxes on investment earnings (such as in your RRSP) represent a whole new territory.

5 Apps for a Fall Refresh

Amber Mac | Posted 09.23.2015 | Canada Living
Amber Mac

In the summer months, humans react similarly. We've been overeating, overspending, and under sleeping. Fortunately, as all good geeks know, a clean restart will often solve 99 percent of your problems. And, with a little help from some apps, you might even enjoy that autumn mist this time around.

Why More Canadians Are Looking for Alternatives to Big Banks

Steve Bolton | Posted 08.17.2015 | Canada Business
Steve Bolton

According to a recent survey more Canadians than ever are becoming dissatisfied with their bank. In fact, the survey found nearly nine per cent of respondents said they will "definitely or probably" switch banks in the next 12 months, compared with seven per cent in 2014.

A Letter to Our Daughters About Their Future Careers

Jenny Fagg | Posted 05.06.2015 | Canada Business
Jenny Fagg

As I sit and write this letter to our daughters -- our future leaders -- I recognize that women are increasingly visible in leadership roles. However we have a long way to go to achieve equality, particularly at the most senior levels of leadership.

How Canada's Banks Are Reaching Out to Millennials

Carlos de Torres | Posted 04.26.2015 | Canada Business
Carlos de Torres

A recent study found that millennials are attracted to online resources to help them manage their money and answer their banking needs. Banks have been listening to what their younger consumers are after and changing how they can offer their services.

Have You Had 'The Talk' With Your Student Yet?

Melissa Jarman | Posted 09.22.2014 | Canada Business
Melissa Jarman

Another interesting finding from the poll was that students are significantly more anxious about taking on debt than their parents think they are (69 per cent versus 60 per cent), and they're more worried about having enough money to cover expenses (71 per cent of students versus 57 per cent of parents).

Forced Selling: An Offer You Can't Refuse?

Tim Paziuk | Posted 07.04.2014 | Canada Business
Tim Paziuk

Many people are unaware that "coercive tied selling" is illegal in Canada. According to the Financial Consumer Agency of Canada, "This means that banks are not allowed to unduly pressure or coerce you into a product or service from their affiliates as a condition for obtaining another product or service from them."

Big Change Coming At CIBC

CP | Ross Marowits, The Canadian Press | Posted 06.24.2014 | Canada Business

MONTREAL - CIBC says it is eyeing big-ticket acquisitions in the United States as the Toronto-based bank seeks to boost earnings from wealth managemen...

These Numeric Passwords Will Get You Hacked

Jenna Em | Posted 05.02.2014 | Canada Living
Jenna Em

Check the list below to see if your four-digit password is on this list, and if so, please change it to something more random, secure and less crackable. After all, there is a pool of 10,000 different combinations available from which to select a 4-digit pin and yet the same passwords are repeatedly selected by the general population.

How America's Return to Community Banks is Bad News for Canada's TD and BMO

Robert Waite | Posted 01.23.2014 | Canada Business
Robert Waite

In a town perhaps previously best known for providing the dirt that allowed Boston to double in size by filling in its swampy Back Bay there is a startling banking counter-revolution underway. Led by long-established but newly-rejuvenated Needham Bank and involving not only that town but those nearby, community banking is reclaiming market share.

Canada's Banks Used to Be Strong and Free

Alex Vronces | Posted 08.31.2013 | Canada Business
Alex Vronces

Canada's banks stayed afloat during the Great Recession without a real need for the taxpayer's life jacket, whereas American banks either sank or needed the taxpayer's life boat. But what is less known about our financial system is that its merits go beyond its resolve over the last decade.

No More Horrible Bosses - Reinventing the Office Environment

Sheldon Dyck | Posted 06.22.2013 | Canada Alberta
Sheldon Dyck

Thankfully most of us will never experience being threatened with death or blackmailed by our bosses. However, many of us could relate to Kevin Spacey's one beady eye on the clock and another on a closed-circuit video revealing precisely when his employees arrived at work through the company parking garage. Spacey's David Harken was driven not only by his addictions -- to power, humiliation, $1,400 suits and early-morning highballs -- but also by a century-old workplace myth: you have to physically watch the people you lead to determine whether they're being productive.

The Real Meaning of "Private and Exclusive" in the Banking World

Tim Paziuk | Posted 05.25.2013 | Canada Business
Tim Paziuk

Over the last year, for example, there has been an increase in the number of firms that are offering Private Investment Council or Private Investment Pools. Why? Because people are foolish enough to believe that these things are special. What a load of crap!

On the Mortgage Debate, Mulcair KO'd Flaherty

Michel Kelly-Gagnon | Posted 03.21.2013 | Canada Business
Michel Kelly-Gagnon

The federal minister of Finances, Mr. Jim Flaherty, made public comments and exerted pressures for Manulife Bank to withdraw its offer for a five-year-fixed mortgage rate of 2.89 per cent. NPD leader Thomas Mulcair accused Mr. Flaherty of using his position of power inappropriately. I couldn't have said it better myself.

How a $100 Pair of Shoes Really Costs You $1,376.46

Tim Paziuk | Posted 05.18.2013 | Canada Business
Tim Paziuk

When I'm lecturing to students I like to ask them how much a $100 pair of shoes costs. The most common answer is $100 plus tax. Would you believe me if told you it could be as much as $1,376.46? As a 20-year-old, if you convinced yourself not to buy the shoes, and invested it instead -- with an assumed rate of return of 6 per cent -- you'd have $1,376.46 by the time you were 65 years old.

What the Board and Management Want From Each other

Richard Leblanc | Posted 03.30.2013 | Canada Business
Richard Leblanc

I recently trained a group of directors and CEOs from the banking and agricultural sectors in Texas and Arizona. We discussed mutual expectations on the part of the board and management. The following represents the output of these discussions, which could apply to a variety of boards.

Royal Bank Profits Soar In Q4, Sets Profit Record

CP | Craig Wong, The Canadian Press | Posted 01.29.2013 | Canada Business

TORONTO - The Royal Bank (TSX:RY) reported Thursday a record annual profit for its latest year, including $1.9 billion in the fourth quarter, powered ...

The Banks Most In Trouble If Canada’s Housing Bubble Pops

The Huffington Post Canada | Daniel Tencer | Posted 05.22.2012 | Canada Business

If Canada’s housing market experiences the price correction so many analysts and institutions expect, it won’t just hurt the homeowners who bought...

Canada's Banks Dominate World's-Strongest List

The Huffington Post Canada | Daniel Tencer | Posted 05.07.2012 | Canada Business

Canada’s banks may have needed massive financial aid during the banking crisis of 2008, but they’ve recovered nicely -- or at least better than ma...

Rachel Mendleson

Canada's Banks 'Much Worse' Than Wall Street: Author | Rachel Mendleson | Posted 04.18.2012 | Canada Business

Any doubt about veteran journalist Bruce Livesey’s regard for the Canadian financial industry is immediately dispelled by the title of his new book....

Canada's Largest Bank Faces Downgrade

The Huffington Post Canada | Daniel Tencer | Posted 02.16.2012 | Canada Business

UPDATE: The Royal Bank of Canada says it doesn't belong on a list of banks targeted for a possible credit rating downgrade. "This action does nothi...

Canadians Leading The Way In Online, Mobile Banking

CP | Michael Oliveira, The Canadian Press | Posted 02.13.2012 | Canada Business

TORONTO - Most Canadians still aren't pulling out their phones to check their bank account balances and pay bills but experts and users alike expect a...