136 replies to this topic

[GaryOak]

I hope they removed children from that number

[Mike K.]

Kids don’t eat? If mom doesn’t have a credit card, it impacts the child.

What a curious scenario, with the Conservative wanting to hold the bank responsible, and the liberal-socialists arguing against it. Who’s side are you guys on?

[Victoria Watcher]

I’m not on the side of more government regulation.

The bank IS being held responsible. If they violated their terms of service (they likely didn’t) they can be sued. Lots of class action lawyers in this country would love a chance.

Customers can walk away or switch providers.

And the bank also could make a goodwill gesture. Like waiving account fees for some period, for those affected or harmed. Let’s see.

Sounds like some employees were denied their 7 or 14-day earnings for - gasp - up to 12 hours overnight. Not sure it’s a scandal.

Edited by Victoria Watcher, 29 July 2024 - 07:26 AM.

[Mike K.]

Indeed, let’s see.

[Ismo07]

I’m not on the side of more government regulation.

The bank IS being held responsible. If they violated their terms of service (they likely didn’t) they can be sued. Lots of class action lawyers in this country would love a chance.

Customers can walk away or switch providers.

And the bank also could make a goodwill gesture. Like waiving account fees for some period, for those affected or harmed. Let’s see.

Sounds like some employees were denied their 7 or 14-day earnings for - gasp - up to 12 hours overnight. Not sure it’s a scandal.

 

Technology will act up from time to time.  They got it together pretty quickly.  I can't recall the last time something like this happened...

[Victoria Watcher]

Breaking News: TD Bank hit with record $3 billion fine over drug cartel money laundering

TD Bank will pay $3 billion to settle charges that it failed to properly monitor money laundering by drug cartels, regulators announced Thursday.

The fine includes a $1.3 billion penalty that will be paid to the US Treasury Department’s Financial Crimes Enforcement Network, a record fine for a bank.

Edited by Victoria Watcher, 10 October 2024 - 09:30 AM.

[Mike K.]

Jesus.

[Victoria Watcher]

Interac (e-transfer) having problems today.  1st of the month, not the best day for it.

[Victoria Watcher]

Interac says some users are ‘experiencing delays’ with e-transfer service amid outage reports


https://calgary.city...outage-reports/

Edited by Victoria Watcher, 01 November 2024 - 03:23 PM.

[Victoria Watcher]

National Bank of Canada's $5-billion takeover of Canadian Western Bank has cleared its final regulatory hurdle.

 

The Montreal-based National Bank said Friday the federal finance minister has approved the deal, marking the last milestone in the takeover set to be completed on Feb. 3, 2025.

 

"This is great news for Canadians and will allow our two complementary banks to unite and enhance services for our clients," said Laurent Ferreira, president and CEO of National Bank, in a news release.

 

"A new and exciting chapter is beginning for National Bank and CWB as we come together."

The deal previously received approvals from the Office of the Superintendent of Financial Institutions and the Competition Bureau. Canadian Western Bank shareholders voted in favour of the transaction in September.

 

National Bank has called its takeover of the Edmonton-based Canadian Western Bank a key pillar of its domestic growth strategy for 2025. Ferreira said the acquisition will strengthen National Bank's position across the country and allow for more growth in Western Canada.

 

 

https://www.bnnbloom...-bank-takeover/

Edited by Victoria Watcher, 21 December 2024 - 02:05 AM.

[max.bravo]

CWB has a good reputation for business banking. I have an account there. Will be interested to see what changes are coming.

[Victoria Watcher]

The new Wealthsimple chequing account looks good.

https://www.investme...quing-accounts/

Edited by Victoria Watcher, 27 June 2025 - 05:19 AM.

[LJ]

I have a Wealthsimple RRIF account and have found it nothing but problematic.

 

It took weeks to sort out why they stopped depositing my monthly withdrawal into my RBC account. Back and forth with several different people that had no decision making ability.

I'm drawing down my account as quickly as I can without incurring extra taxes and when it is depleted I will happily say goodbye to them.

[Victoria Watcher]

I’ve had no problem with the investment account. Dunno.

[Bambam]

Somehow missed this (even though I voted for it); my old gang at CCS recently announced it has secured member approval for its latest merger this time with Prospera and Sunshine Coast CU's respectively. I believe this now makes CC the largest federally regulated CU - for now until VanCity completes its proposed merger with First Union - in the country, with close to $40 billion under administration, roughly 2500 employees, nearly 750,000 customers and 70-odd branches in BC from the island, north coast, throughout Greater YVR and the Okanagan.

 

Prospera, Coast Capital, Sunshine Coast closer to merging - Business in Vancouver

 

Member breakdown for approval by org was as follows:

 

• Prospera: 75 per cent of votes in favour
• Coast Capital: 90 per cent of votes in favour
• Sunshine Coast: 81 per cent of votes in favour.

[Tony]

I wonder what percent of people voted?

 

When Coast Capital changed to a federally regulated organization I was told that it could no longer do at least one option that I appreciated.

These changes may allow some benefits but my impression is that the new organization benefits more than the members.

I voted against the amalgamation.

[Bambam]

I wonder what percent of people voted?++++++++++++ding 

 

When Coast Capital changed to a federally regulated organization I was told that it could no longer do at least one option that I appreciated.

These changes may allow some benefits but my impression is that the new organization benefits more than the members.

I voted against the amalgamation.

 

Typically voter turnout when I worked there was not high, but that was as of 2008 when I left CCS. Theoretically there were/are member benefits but there is no question the org derives significant benefits including increased market share, greater internal fiscal efficiencies (always a huge selling point internally when I worked there), a diversified risk profile and access to new financial products and services among other things.......