Canada's biggest brands are struggling to make an impact on the outside world, a new ranking shows.
The more options, the better, especially when your money is at stake.
Canada's fifth-largest bank previously hinted at cost-cutting moves.
Why do we stay with them? Complacency is a big reason. A lack of knowledge is another.
There have been government committees, discussions with the private sector and even a national strategy to teach Canadians basic personal finance. But when Statistics Canada data showed late last year that Canada's household debt is now larger than its GDP, it became painfully apparent that we're failing.
Over the last few weeks, there has been much press about how the banks have been accused of "upselling" clients and pressuring staff to market financial products to customers that they do not need. High-pressure sales tactics are not always that apparent. When one thinks of high-pressure sales tactics, it usually involves someone in your face trying to convince you to buy something you probably don't want. It is often a very uncomfortable situation, and all you can think about is trying to get away.
As a personal finance expert I know how important security is. You can spend years saving wisely, only to be duped by a savvy fraudster. Read about all of that in the Little Book of Scams provided by the government of Canada. It outlines all the latest ways fraudsters are trying to get their hands on your information.
TD, for those who may have missed it, has been the subject of a series of CBC stories in which "hundreds" of employees and former employees allege they were being pressured to "squeeze" customers to improve the bank's revenues and profitability.
Is there an economic activity more democratic than comparison shopping? In the lending industry, borrowers have long held
Online and mobile banking is overtaking the need for brick-and-mortar banks.