Canada Banks

Is There Any Point in Saving Money Anymore With These New Bank Fees?

Douglas Hoyes | Posted 01.30.2015 | Canada Business
Douglas Hoyes

Thanks to the government of Canada (and most other governments around the world) pushing interest rates to very low levels, there appears to be no point in saving money. Banks pay zero interest on a typical savings account, and GICs aren't much better. What's the point of saving?

Lessons On the Dangers of Income Inequality... From TD Bank

Dr Ryan Meili | Posted 02.27.2015 | Canada Politics
Dr Ryan Meili

It is perhaps discouraging that the health effects of inequality have not been sufficiently concerning to drive decision-makers to change policies, but a new kind of evidence may make a greater difference. It's not only the people in unequal countries that are sicker, it's their markets as well.

Bankers Beware: Here Comes Disruption

Diane Francis | Posted 08.16.2014 | Canada Business
Diane Francis

Toronto's and Ontario's cash cow -- banking -- is going to face increasingly rough seas. This won't happen immediately, but a steadily downward trajectory affecting profits and employment is clear. At a recent high-level conference in New York on the future of finance, the news was great for consumers but grim for the world's bankers.

This Economic Cycle's Oxymoron: More Growth, Less Cash

Peter Hall | Posted 07.08.2014 | Canada Business
Peter Hall

Cash has been plentiful in emerging markets. Between 2009-2012 as quantitative easing ramped up, there was a massive expansion in borrowing on global bond markets by emerging market (EM) sovereigns, banks and companies. As a result, EM economies are now closely integrated into global debt markets, and thus more affected by actions taken in Developed Markets (DMs), particularly the withdrawal of quantitative easing (QE).

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...

Don't Get Upsold - Treat Your Bank Like a Store

Tim Paziuk | Posted 06.12.2014 | Canada Business
Tim Paziuk

Is our financial system broken or just designed to take advantage of the average person? When you go to the bank to make a deposit or pay a bill are you expecting to be sold? Probably not, but it happens all the time.

BMO Q1 Profit Rises

CP | The Canadian Press | Posted 04.27.2014 | Canada Business

TORONTO - Bank of Montreal (TSX:BMO) saw its profits grow to $1.06 billion in its latest quarter, boosted by improved results across its business and ...

Banks Are Playing Russian Roulette With Our Financial Security

Nick Fillmore | Posted 02.08.2014 | Canada Business
Nick Fillmore

Today, while regulators struggle with banks to get the derivatives market under control, these gambling instruments are being used just as dangerously as they were leading up to the recession. In fact, the banks and traders are even more aggressive now.

Canadians Are Going Bankrupt, So Let's Change the Money Conversation

Tanya Raheel | Posted 10.06.2014 | Canada Business
Tanya Raheel

Did you know that not only did the overall number of women (especially single, divorced and widowed) who declared bankruptcy after the 2008 Recession go through the roof both in Canada and the U.S., but it's been on a steady rise ever since?

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.

When it Comes to Your Mortgage, Every Day is Opposite Day

Tim Paziuk | Posted 10.14.2013 | Canada Business
Tim Paziuk

It wasn't too long ago that banks were recommending locked in mortgages because they told us rates could be going up. What happened, of course, is that interest rates came down as we've seen, and a lot of people were (and some still are) paying significantly higher interest.

The Secret the Banks Don't Want You to Know

Joaquin Benitez | Posted 09.08.2013 | Canada Business
Joaquin Benitez

As the old saying goes, "the best way to make money is to stop losing money." Having the knowledge of how lending institutions operate is empowering. What is the secret that the bank does not want you to know? The bank does not want to take away your home!

Financial Planners May Not Have Your Best Interests in Mind

Tim Paziuk | Posted 07.10.2013 | Canada Business
Tim Paziuk

There is a major battle going on in the financial services industry, and your welfare is at stake. What's the war over? Whether or not the person you're trusting to invest your money is legally required to act in your best interest. Right now, they only have to make sure the investments they're selling you are "suitable." I would like to see legislation for fiduciary duty and I'll tell you why.

World's Strongest Banks Ranked

CBC | Posted 07.01.2013 | Canada Business

Four of Canada's biggest banks have landed among the top 10 in a global ranking of the strongest banks, although two of them have seen their rankings ...

The Next Big Thing in Funding Innovation

Steven Uster | Posted 06.17.2013 | Canada Business
Steven Uster

While it took a few years after the financial crisis for financial services start-ups to get their business models refined to the point where they can come to market they are here now, and these alternative financial services technology companies are becoming viable and increasingly common sources of financing for entrepreneurs and small businesses.

Is It Time to Stop Coddling Canada's Banks?

Daniel Tencer | Posted 06.14.2013 | Canada Business
Daniel Tencer

In this day and age of free market orthodoxy, the banks don't like to think of themselves as having any sort of "moral obligations," only obligations to shareholders. But the protection Canadian banks enjoy -- the same protection that has allowed them to prosper internationally -- means that the banks do not operate in a free market environment, and if they want to continue having their cake and eating it too they should accept they have responsibilities towards the Canadians who have little choice but to bank with them.

Harper's Smoke and Mirror Government

Doug Thomas | Posted 06.11.2013 | Canada
Doug Thomas

The Harper government is a smoke and mirror government that confuses transparency with murkiness and should realize that such an approach usually resu...

Changes And Challenges Ahead For Big Banks

CP | David Friend, The Canadian Press | Posted 06.07.2013 | Canada Business

TORONTO - Change is afoot at the big Canadian banks, as some of its top leaders near retirement age just as the economy runs into fresh challenges wit...

Canada's Version Of 'Too Big To Fail'

CP | Julian Beltrame, The Canadian Press | Posted 05.26.2013 | Canada Business

OTTAWA - The federal financial supervisor has slapped a too-big-to-fail label on Canada's six largest banks, declaring they will need to carry a bigge...

The Demise of the Blue Chip Director

Richard Leblanc | Posted 05.18.2013 | Canada Business
Richard Leblanc

These are disguised but true stories. A director who has never operated a plant or worked in the company's industry chairs the board's health and saf...

Canada's Banks Threatened By EU Trade Agreement: Documents

CP | Heather Scoffield, The Canadian Press | Posted 04.29.2013 | Canada Business

OTTAWA - A leaked draft of part of the Canada-Europe trade talks shows that Canada's vaunted banking system is on the negotiating table.The Canadian P...

Canada's Biggest Problem Could Be "Extractive Elites"

Diane Francis | Posted 04.26.2013 | Canada Business
Diane Francis

Debates about debt are noisy and nasty and extend across the developed world. Squeaky wheels get the oil, or escape cuts to their spending, but the solution is unaddressed and improperly framed. The issue is about "extractive elites" -- who they are and what to do about them.

The First Step to Talking Money With Women

Deborah Nixon | Posted 01.05.2013 | Canada Business
Deborah Nixon

Women relate to each other though stories, and through this process they learn and grow. Money is one of the last taboos and is something many of us are uncomfortable discussing. Creating safe and open spaces for women to talk about money is one of the missing gaps in financial and investor education.

Why Canadian Banks Didn't Collapse Along With U.S.

The Globe and Mail | Posted 12.11.2012 | Canada Business

The International Monetary Fund today takes a deeper look at why banks in Canada and a handful of other countries withstood the 2008-2009 meltdown, w...

Banks Need to Win Back Customers' Trust

Deborah Nixon | Posted 11.24.2012 | Canada Business
Deborah Nixon

It has all come to where we are today: Loss of confidence, loss of trust, and staggering market losses. This is the time for transparency, authentic conversation, honesty and humility. Those who display this behaviour have a chance to slowly regain the shattered trust of their customers. Straight talk. Honest talk. Committed talk. No spin. No rationalization. The industry messed up, and the public wants to hear the truth.