The Financial Consumer Agency of Canada (FCAC) has published its Strategic Plan for 2026-2029, reaffirming its essential role in fostering consumer trust and its commitment to protecting and empowering Canadians in a rapidly evolving financial landscape. The full release is available online.
New regulations come into force capping at $10 the non-sufficient fund (NSF) fees federally regulated banks charge Canadians. FCAC will oversee industry compliance with the new NSF fee requirements, which include the following consumer protections: consumers cannot be charged more than $10 in NSF fees when they do not have enough money in their personal deposit … Read more
Financial Consumer Agency of Canada Commissioner Benzvy Miller issued a statement: “Since the implementation of new powers for FCAC in 2020, and the implementation of the new and enhanced protections for bank customers in 2022, the Agency has pursued a continuous improvement approach aimed at making regulatory oversight more responsive, transparent and efficient. This commitment is reflected … Read more