FCAC MAKES BRANCH CLOSURE DATABASE AVAILABLE TO THE PUBLIC

News Release

OTTAWA, December 22, 2004 -- Bill Knight, Commissioner of the Financial Consumer Agency of Canada (FCAC), today announced that the Agency's database of bank branch closure information is now available to the public on FCAC's Web site. "In the past two years FCAC has received more than 1,000 inquiries and complaints from consumers on the topic of branch closures," explained Knight. "Canadians have shown us that they want more information about branch closures, so we're making it easier for them to get it." While the information on branch closures was previously disclosed by the banks through their annual Public Accountability Statements, this is the first time that all branch closure information has been made available in one place. It is also the first time that the information has been housed in a searchable database. Says Commissioner Knight: "What's most exciting about this new tool is that it enables consumers and researchers to extract specific information. Our interactive search function allows Canadians to view branch closures by date, location and financial institution." FCAC's database houses information on more than 700 Canadian bank branch closures dating back to February 2002. To search the database, visit the "For Consumers" section of FCAC's Web site at: www.fcac.gc.ca FCAC ensures compliance with the consumer protection laws that apply to banks and federally incorporated trust, loan and insurance companies. FCAC also provides consumers with accurate and objective information about financial products and services, and informs Canadians of their rights when dealing with financial institutions. - 30 - Media contacts: Christina McDonald Public Affairs Officer Tel.: (613) 941-4168 E-mail: mcdonald.christina@fcac.gc.ca Jean-Guy St-Amour Consumer Education Officer Tel.: (613) 941-4222 E-mail: st-amour.jean-guy@fcac.gc.ca

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2016-12-15

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FCAC MAKES BRANCH CLOSURE DATABASE AVAILABLE TO THE PUBLIC

News Release

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