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Consumer Alert: Potential breach of personal information

| Financial Consumer Agency of Canada | news releases

In the event that your personal information has been compromised, the Financial Consumer Agency of Canada (FCAC) is encouraging you to take the following steps to reduce the risk of harm.


FCAC publishes Report on Best Practices in Financial Consumer Protection

| Financial Consumer Agency of Canada | news releases

The Financial Consumer Agency of Canada (FCAC) today published its Report on Best Practices in Financial Consumer Protection. The Report is in response to a request from the Minister of Finance that FCAC engage with provincial and territorial regulators and other key stakeholders to identify best practices in financial consumer protection in place across the country.


FCAC announces Indigenous Financial Literacy Working Group

| Financial Consumer Agency of Canada | news releases

Canada’s Financial Literacy Leader Jane Rooney and the National Steering Committee for Financial Literacy today announced a new working group to assist in responding to the financial literacy needs of Indigenous Peoples, including First Nations, Inuit and the Métis Nation. The working group will be co-chaired by Jane Rooney and Simon Brascoupé of AFOA Canada (formerly the Aboriginal Financial Officers Association of Canada) and will report to the national steering committee.


FCAC releases Progress Report on Canada’s National Research Plan on Financial Literacy 2016-2018 

| Financial Consumer Agency of Canada | news releases

The Financial Consumer Agency of Canada (FCAC) today released the Progress Report on Canada’s National Research Plan on Financial Literacy 2016-2018. The purpose of this report is to share important findings with financial literacy practitioners and researchers in order to help advance collective efforts to improve the financial well-being of Canadians.


FCAC Commissioner announces members of new consumer protection advisory committee 

| Financial Consumer Agency of Canada | news releases

The Financial Consumer Agency of Canada (FCAC) announced today that 9 leading Canadians were named to the Consumer Protection Advisory Committee. The advisory committee will be chaired by Commissioner Lucie Tedesco and will support the Agency’s financial consumer protection mandate.


Retail banking sales culture may raise risks for consumers 

| Financial Consumer Agency of Canada | news releases

The Financial Consumer Agency of Canada has published a report on its review of domestic banks’ retail sales practices. The report, which follows 9 months of extensive work, finds that bank cultures strongly anchored in sales can increase the risks of mis-selling to consumers and of bank employees breaching market conduct obligations.


Backgrounder: Domestic Bank Retail Sales Practices Review 

| Financial Consumer Agency of Canada | backgrounders

This report presents the findings of the Financial Consumer Agency of Canada’s (FCAC) review of the domestic retail sales practices of Canada’s six largest banks. FCAC found that retail banking culture encourages employees to sell products and services, and rewards them for sales success.


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