How your banking rights are protected
Measures to protect your banking rights
Various measures protect your banking rights including:
- federal laws and regulations
- codes of conduct
- public commitments
These obligations apply to federally regulated:
- authorized foreign banks
- credit unions
- trust and loan companies
- insurance companies
- retail associations
- external complaints bodies
- payment card network operators
Other financial institutions like provincially regulated credit unions and securities commission are regulated provincially. They may have different requirements.
Financial Consumer Agency of Canada’s role
The Financial Consumer Agency of Canada (FCAC) monitors and supervises federally regulated entities. FCAC supervises their compliance with the federal consumer protection measures, codes of conduct and public commitments that apply to them.
FCAC doesn’t provide redress or compensation and can’t get involved in individual disputes.
Your right to file a complaint
If you feel that a federally regulated entity isn’t respecting your rights, you can file a complaint.
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