Guidelines
Guidelines establish practices that the Financial Consumer Agency of Canada (FCAC) expects regulated entities to incorporate within their business operations. They are intended to assist regulated entities in complying with market conduct obligations stemming from legislation, regulations, codes of conduct and public commitments. The guideline development process includes public consultations.
Notice
The new Financial Consumer Protection Framework (FCPF) in the Bank Act and the Financial Consumer Protection Framework Regulations (collectively: “FCPF Requirements”) come into force on June 30, 2022. The FCPF Requirements apply to banks, authorized foreign banks and federal credit unions. Certain guidelines will be reviewed, including for purposes of reflecting the FCPF Requirements, and will be reissued in due course as is appropriate. Starting June 30, 2022, the affected guidelines are to be read by banks, authorized foreign banks and federal credit unions in conjunction with, and subject to, the FCPF Requirements. If there is any inconsistency between the FCPF Requirements and the below guidelines relating to banks, authorized foreign banks and federal credit unions and their conduct post June 30, 2022, the FCPF Requirements prevail.
- CG-1 Disclosure on opening a deposit account
Posted on: November 2007
Repealed on: July 1 2014 - CG-2 Access to Basic Banking Services Regulations: Refusal to open an account
Posted on: July 2007 - CG-3 Clear language and presentation principles and guidelines for the industry
Posted on: October 2009 - CG-4 Information box examples for the Cost of Borrowing Regulations
Posted on: October 2009 - CG-5 Consent for increases in credit limits
Posted on: May 2011 - CG-6 Online and other electronic credit card applications and information boxes
Posted on: September 2011 - CG-7 Ninety days' notice of fee increases or the introduction of a new fee
Posted on: October 2011 - CG-8 Mortgage prepayment penalty disclosure
Posted on: March 2012
August 2012: CG-8 has been repealed and replaced by CG-9 - CG-9 Mortgage prepayment penalty disclosure
Posted on: August 2012 - CG-10 Increased disclosure and cancellation of contracts without penalty
Posted on: February 2013
Amended in July 2016 - CG-11 Branch closure meeting rules
Posted on: February 2013 - CG-12 Internal dispute resolution
Posted on: April 2013 - CG-13 Application guide for external complaint bodies
Posted on: April 2013
Modified on February 9, 2016, to include frequently asked questions - CG-14 Branch closure guidance – Pre-closure consultation process
Posted on: January 2016 - CG-15 Information summary box examples—Credit and debit card code
Posted on: July 2016 - CG-16 Fee disclosure box—Credit and debit card code
Posted on: July 2016 - Guideline on Complaint-Handling Procedures for Banks and Authorized Foreign Banks (coming into force June 30, 2022)
Posted on: January 2022 - Guideline on Appropriate Products and Services for Banks and Authorized Foreign Banks (coming into force June 30, 2022)
Posted on: February 2022 - Guideline on Whistleblowing Procedures for Banks and Authorized Foreign Banks (coming into force June 30, 2022)
Posted on: March 2022
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