Canada Banking

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

Melissa Jarman | Posted 07.23.2014 | 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

HuffingtonPost.com | 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...

Blocking Banks From Buying Foreign Assets Could Stave Off Crisis: Flaherty

CP | Julian Beltrame, The Canadian Press | Posted 02.06.2012 | Canada

OTTAWA - Finance Minister Jim Flaherty says he needs a veto over Canadian banks' ability to buy foreign entities because ultimately Ottawa would be le...

TV Show Host Calls For Canadian 'Credit Card Strike'

CBC | Posted 01.07.2012 | Canada Business

Gail Vaz-Oxlade is, in her words, "seriously pissed." The author of the best-selling Debt-Free Forever and host of the popular TV show Ti...

Credit Union Groups In Merger Talks

CBC | Posted 12.17.2011 | Canada

Further consolidation in Canada's credit union market is on the horizon, with news Monday that two of the country's biggest credit union ...

HuffPost Exclusive: Sharia Banking Goes Bankrupt

Tarek Fatah | Posted 12.17.2011 | Canada Business
Tarek Fatah

The leading promoter of Sharia banking in Canada, UM Financial Inc. has gone into receivership. The consequences of this bankruptcy may effect thousands of Muslim homeowners. The troubles at UM Financial did not come overnight

Rachel Mendleson

Canada's Banks Face Leaner Times: Analyst

HuffingtonPost.com | Rachel Mendleson | Posted 11.14.2011 | Canada Business

As the European sovereign debt crisis deepens, Canadian banks could soon feel the pinch. In a note Tuesday evening, National Bank Financial analyst...

Scotiabank Expands Foothold In China With Big Purchase

AP | Posted 11.09.2011 | Canada Business

HONG KONG (AP) -- Bank of Nova Scotia said Friday it's buying a stake in the Bank of Guangzhou for $719-million, its second stake in a Chinese bank. ...

Cable Company, ISP ... Bank? Rogers Plans Major Expansion

CBC | Posted 11.06.2011 | Canada

Rogers Communications Inc. has filed papers with the federal government to start a bank. The telecom giant intends to apply t...

Canadian Banks Rake It In In 3rd Quarter

CP | Mary Gazze, The Canadian Press | Posted 11.01.2011 | Canada Business

TORONTO - Strong retail banking numbers helped Canada's six biggest banks make a combined $4.56 billion in profits in the third quarter, with several ...