Banks and federal credit unions

From: Financial Consumer Agency of Canada

The Bank Act is the primary legislation governing banks and federal credit unionsFootnote 1 in Canada. The Financial Consumer Agency of Canada (FCAC) administers sections of the Bank Act that have been designated as consumer provisions. FCAC also monitors compliance with codes of conduct and public commitments.

Bank Act

The complete text of the Bank Act can be found on the Department of Justice website.

The following sections of the Bank Act are designated as consumer provisions:

  • (a) paragraphs 157(2)(e), sections 195.1, 273.1, 627.02 to 627.998 and 979.1 to 979.4 of the Bank Act together with any regulations made under or for the purposes of those provisions
  • (a.1) sections 992 to 1003 of the Bank Act as those sections apply to any notice, document or other information that is required under the provisions referred to in paragraph (a)

Bank Act Regulations

Codes of conduct

Public commitments

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