Part 2: The Merchant Loyalty Industrial Complex Collapse  

fsim.ca/docs/Credit_cards_Part_2v4.pdf

Mark Sibthorpe

Since November 2, 2021, Loyalty Ventures Inc.'s (Airmiles) market cap has decreased from $861.42M to $2.11M, a decrease of -99.75%. This compares closely to 2018, when Aimia sold Aeroplan back to Air Canada and partners TD and CIBC for $238 million. For reference, in 2005 Aeroplan launched an IPO valuing it at $2 billion. Related to Aimia’s downfall, it had also previously sold the UK Nectar program to Sainsburys for $120 million, $580 million lower than it paid for Nectar in 2007.

This report digs under the surface and uncovers why loyalty is going the way of the dodo.

Merchants should not waste time fighting card networks  

fsim.ca/docs/Card_fees_ongoing.pdf

Mark Sibthorpe

This is part one of a two part assessment of merchant frustration due to high credit card fees. The second part of this report will outline an alternative approach that merchants can consider. An approach that is a win for them and also for the card networks.

The full story of SVB March 12th, 2023  

fsim.ca/docs/SVB_special_report2.pdf

Mark Sibthorpe

Aggregated news and research related to SVB. Apart from SVB, included in this report is related news with respect to other banks and non-traditional companies looking to add financial services that also appear risky.

March 2023 bank earnings summary  

fsim.ca/docs/bankearningsfriday.pdf

Mark Sibthorpe

This report provides a snapshot into recent bank earnings and related news as published in fsim.ca reports.

Real estate report: October 30th, 2020  

fsim.ca/docs/Oct30rereportv1.pdf

Mark Sibthorpe

The big buzz in real estate recently is Mark Carney being scooped up by Brookfield. This means more juice for riskier borrowers. Brookfield, a huge player in real estate, both residential and commercial, recently bought its remaining shares from Sagen (Genworth MI Canada), which values the company at $3.8 bn.

VersaBank’s New High-Security VPN Proving Especially Valuable During COVID-19 Pandemic  

fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf

Press Release

2014 FSIM when Bernanke visited Montreal  

fsim.ca/docs/MockBernanke.pdf

Mark Sibthorpe

Considering Bernanke is hated by the Republicans and hated even more by the Democrats, and is currently under scrutiny for saving AIG but not Lehman, (in hindsight) with respect to issues over solvency vs liquidity, the Montreal lovefest attended by 1,100 people yesterday must have been a welcome respite. Click the link to read the entire 2014 report.

Eisman's big Canadian bank short  

fsim.ca/docs/eisman2.pdf

Mark Sibthorpe

I have been reporting on Steve Eisman's short position for quite some time.  As the analyst reaction to Eisman shows (link below), Eisman has taken a lot of heat for shorting Canadian banks. Instead of capitulating, in September 2019 he publicly disclosed the fact that he added Canadian Tire to his position, He explains the rationale for this in a BNN interview late 2019. Essentially, his big concern with respect to banks was non-performing loans in Alberta. He feels Canadian bank CEOs are not prepared for a credit cycle. He specifically referenced ATB (a private bank) in discussing his concerns. Looking at the numbers today, my guess is that he has made off like a bandit.

VersaBank Beta-Testing Its New, High Volume Mortgage Finance App   

fsim.ca/docs/VBCortelMortFinanceAppFeb62020.pdf

Press Release

VersaBank announces it is initiating beta-testing on its newly developed high-volume mortgage software app with the Cortel Group, one of Canada’s largest home and condominium builders. The app, named “Direct Connect”, was designed to facilitate and significantly reduce the lengthy finance approval process typically experienced by home buyers when visiting home and condo pre-construction sales offices.

How and why you need to defend your brand against disruptors  

Mark Sibthorpe

Technology, and being open to opportunities, has preempted transformation in banking. At the top of change are Mint, PayPal and ApplePay; three examples of transformative solutions that are now ubiquitous. On the horizon: Uber and Google, both having recently announced partner based banking services. Further down in the plumbing is Duca Impact Labs, Versabank, and Revolut. This report shows how cost conscious FIs can, not only stay relevant in the face of adversity, but punch well above their weight. All thanks to creative thinking and the ongoing commoditization of technology.

Kick the can(nomics)  

fsim.ca/docs/Kick.pdf

Mark Sibthorpe

Canada has used consumer debt to provide life support to the economy. This strategy which basically pushed the day of reckoning to the next government was old back in 2014, and now is well past its sell-by-date. Recognizing this, and desperate to keep the economy out of a recession, Trudeau is spending more money now than any government in Canadian history. This report disusses a possible alternative.

ScoreCard Bill Morneau, Canada's Minister of Finance  

fsim.ca/docs/ScoreCardMorneau.pdf

Mark Sibthorpe

This report is a scorecard I designed in order to rank the performance of the current Minister of Finance, Bill Morneau. I do regular rankings because, otherwise, I cannot measure the performance in a meaningful way. The scoring is based on a variety of metrics as detailed on the ‘score-table’ on page 3. Examples of the criteria and weighting include:

Observations and overview of 2018 NB flood support from government and insurance companies.  

fsim.ca/docs/Observations and overview of 2018 NB flood support from government and insurance companies..pdf

Mark Sibthorpe

Flood aftermath is linked to post traumatic stress. Here are some findings from a study conducted by Queensland University following a flood:

"The findings showed that aftermath stress contributed to poor mental health outcomes over and above the flood itself, prior mental health issues and demographic factors," Ms Dixon said.

"Aftermath stress was the strongest predictor of post-traumatic stress symptoms with 75 per cent of people saying the most difficult aspect was the aftermath and dealing with insurance companies," she said.

With this in mind, I felt it was important to understand how New Brunswick flood victims were treated.

Update Argentina: a sign of the times  

fsim.ca/docs/Update Argentina_ a sign of the times.pdf

Mark Sibthorpe

Argentina is in the news daily because the situation is dire, and may be an indication of further contagion. The most dramatic story that speaks of the a leading cause of its troubles was the recent arrest of the public works secretary, Jose Lopez. June 15th he was caught hiding millions in cash in a monastery. No this is not a plot for a comedy.

Summary of Canada's flood news, 2017 to present  

fsim.ca/docs/Summary-of-flood-news-2017-present.pdf

Mark Sibthorpe

This report covers flood news in Canada from 2017 to present and highlights the relevent issues for home-owners and the insurance industry.

Banking on Pot  

fsim.ca/docs/c10191_banking-on-pot.pdf

SBS

As states across the US legalize marijuana for both medicinal and recreational purposes, it has fueled a growing industry of marijuana related businesses (MRBs).

Canadian banking industry overview  

Mark Sibthorpe

The industry overview is divided into 5 parts:

Introduction
Small banks
Small medium sized banks
Medium sized banks
Medium large banks

2014 Mobile payments the Apple pay way  

fsim.ca/docs/Mobile_Payments_Apple_Pay_2014.pdf

Mark Sibthorpe

With Walmart Pay about to userp Apple Pay, I thought I would share my 2014 book on mobile payments and loyalty. The guilde was written for Merchants that want to understand loyalty, credit, mobile payments and Apple Pay, but anyone involved with credit and loyalty might find it useful.
The book is a prelude to Walmart leaving MCX, and chronicles the evolution that led to Walmart Pay. There is an extensive case study of Walmart that looks into its efforts to become an ILC and to avoid paying credit card transaction fees ('merchant discount').
It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and industry facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives. 

Death to bitcoin, long live the blockchain   (See full report)

Mark Sibthorpe

Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.

TD bank industry conduct  

fsim.ca/docs/tdind2.pdf

Mark Sibthorpe

TD’s share price recently collapsed by $7 bn in one day due to CBC’s allegations of aggressive selling tactics. A huge fall from a bank that was trading at a premium as recently as January. This was even before the most recent allegation of TD attempting to avoid paying taxes on advertising.
This report chronicles the events leading up to the collapse, shows TD's performance, analyses other related issues.

Book review: Back from the Brink  

fsim.ca/docs/backbrink.pdf

Mark Sibthorpe

This is a book review of the book Back from the Brink by Paul Halpern, Caroline Cakebread, Christopher C. Nicholls and Poonam Puri.

Footnote 151  

fsim.ca/docs/footnote151.pdf

Mark Sibthorpe

Footnote 151 implies an important regulatory change related to derivative contracts. It means that US Banks will not be required to hold as much capital against commodities. If you want to understand the implications of this regulatory change in more detail, see the enclosed related article detailing the changes. For contextual purposes, I have also included two Rolling Stones Magazines reports from 2010 and 2014 that chronicle the role large US banks have played in manipulating commodities. You might question the credibility of these sources, but rest assured, these reports are based on United States Senate hearings which outline the issues in a 396 page report related to the implied risks. 

Save the Canadian economy now  

fsim.ca/docs/helecopter-money.pdf

Mark Sibthorpe

Consumer debt spending appears to have insulated Canada from the worst of the credit crisis, but now the alarming magnitude of consumer debt ($1.92-trillion) could exacerbate a day of reckoning.
This report assesses the issues at hand and recommends the solution to get Canada's economy on track.

Reasons financial service companies should consider gamification  

fsim.ca/docs/GamingEventProposal-printsample--en-final.pdf

Mark Sibthorpe

Gamification of business processes resulted on Mint.com growing to 10 million users within 4 years. This report explains how.

National Bank Special Report  

fsim.ca/docs/NatBSpec.pdf

Mark Sibthorpe

According to Bloomberg, National Bank of Canada will take a C$64 million ($48 million) restructuring charge in the fourth quarter and said its investment in Maple Financial Group Inc., which is being probed by German regulators, may be at risk of a “substantial loss.”

Will Canadian banks charge companies for deposits?  

fsim.ca/docs/depgrowthimpact2.pdf

Mark Sibthorpe

In light of today’s possible rate cut, this report discusses how a bank rate cut and capital ratio pressure could precipitate negative corporate deposit interest rates in Canada.

Canadian Tire's (CTC) - Canadian Tire Financial Services (CTFS) Scotia deal overview and risk assess  

fsim.ca/docs/ctfsfinal.pdf

Mark Sibthorpe

Review of the Canadian Tire Financial Services deal with Scotiabank, risks, opportunity and benefits.

Finance minisiter scorecard August 26, 2015  

fsim.ca/docs/Scorejo-August-2015.pdf

Mark Sibthorpe

This report looks at Joe Oliver, minister of finance’s progress to date, and assigns a grade to his government’s performance to date.

Xtreme Branch  

fsim.ca/docs/xbranch.pdf

Mark Sibthorpe

Branches are evolving to meet the digital age. This documents tracks the evolution with real-world examples.

Canadian Nudge  

fsim.ca/docs/nudge.pdf

Mark Sibthorpe

CWB cause for concern  

fsim.ca/docs/cwbupdate.pdf

Mark Sibthorpe

BNTV Overview  

fsim.ca/docs/overviewpdf.pdf

BNTV

BankNews.TV Publishing Corp services overview document:

• Analytics
• Financial services industry monitor (FSIM) industry briefings and developments reports
• Research

Challenger banks not a threat to big banks  

fsim.ca/docs/challenger.pdf

Mark Sibthorpe

This report looks at Canadian challenger banks (apart from merchant led banks) and explains why they have not threatened larger institutions. It also looks at ways in which these upstarts have achieved success.

Gamification of financial data project  

fsim.ca/docs/GamingEventProposal-printsample--en-final_original.pdf

Mark Sibthorpe

This document contains details on how BankNews.TV is helping kids learn programming via gamification of financial data.

The impact a rate rise will have for Canadian banks  

fsim.ca/docs/irr-f.pdf

Mark Sibthorpe

Canadian banks have made money throughout the credit crisis, but this trend may be about to reverse. The rational supporting this prediction is that revenue has grown despite a declining net interest margin (NIM). It has grown in spite of this fact because Canadian debt (loan lease volume) has risen significantly, as shown in chart 2.

FIFA: the new goldenballs  

fsim.ca/docs/goldenballs.pdf

Mark Sibthorpe

Yesterday, the Attorney General of Switzerland (OAG) opened criminal proceedings related to the FIFA scandal. This report outlines some of the events related to the criminal investigation, with a particular focus on banking.

Scorecard Minister of Finance: JIm Flaherty  

fsim.ca/docs/Scorecard Min Fin Flaherty April 8 2014.pdf

Mark Sibthorpe

March 18, Finance Minister Jim Flaherty resigned from cabinet after having endured a difficult year due to health issues. This report looks at his legacy and attempts to grade his government’s performance to date.

Sample RFP for a Loyalty Program  

fsim.ca/docs/sample RFP for a loyalty program.pdf

Mark Sibthorpe

Merchants extend financial services  

fsim.ca/docs/merchantfs.pdf

Mark Sibthorpe

Merchant led financial services are growing in importance once again. This is exemplified in the ongoing UK rivalry between ASDA, Sainsbury and Tesco. Together these merchant/financial service companies provide the backstop for three different approaches for merchants looking to extend their financial services.

Hot Money: real-estate  

fsim.ca/docs/hotmoney.pdf

Mark Sibthorpe

Currency Cheat Sheet: a guide for the rest of us  

fsim.ca/docs/currencycheatsheet.pdf

Mark Sibthorpe

Riches to Rags? Summary of possible risks for Genworth MI CANADA, INC.  

fsim.ca/docs/gq4risk.pdf

Mark Sibthorpe

Genworth had its Q4 2014 earnings call. Genworth own about 30% of the mortgage default insurance in Canada. Not surprisingly, the earnings call became focussed on Alberta; and for good reason, with 20% of its outstanding insured mortgage balance in Alberta, sensitivity to the oil shock and how Genworth plan to manage related risks were discussed in detail.

Canadian Western Bank Competitive Forecast  

fsim.ca/docs/cwbf.pdf

Mark Sibthorpe

Based on historical financial data (see detailed charts pages 5-8), the oil based recession in Alberta, and comparison against two of its peers, this document outlines my observation with respect to CWB’s future performances.

Liquid Canada: the tipping point  

fsim.ca/docs/Liquid.pdf

Mark Sibthorpe

This report examines liquidity issues in the Canadian financial service industry.

Bank Fees  

fsim.ca/docs/Bank fees.pdf

Mark Sibthorpe

Recently the CBC and The Globe and Mail both reported on what has been referred to as a consumer “bank fee outcry”. CBC compares banks to cable and phone companies, standing accused of trying to gouge customers with service fees. The backlash appears to have originated in conjunction with the NDP and the Consumers Council of Canada which argues that there is anxiety ‘among consumers about banking fees’.

Cheap Oil Report  

fsim.ca/docs/co2.pdf

Canada's Economy, a strategic solution  

fsim.ca/docs/ces.pdf

Mobile Payments Blueprint: guide to credit and loyalty transformation for merchants  

fsim.ca/docs/booksample.pdf

Guide to system selection  

fsim.ca/docs/gssnow.pdf

Read sample report: Guide to system selection. This sample would normally cost $99 but is available free as a sample. Click here view sample report.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

TORONTO HOME SALES CLIMB FOR THIRD STRAIGHT MONTH AS BUYERS GAIN LEVERAGE OVER SELLERS

G&M (2025-07-04)

Toronto home sales rose 8.1

BROOKFIELD SELLS US$690-MILLION IN PRIVATE-EQUITY STAKES TO SET UP FUND TARGETING WEALTHY INVESTORS

G&M (2025-07-04)

The private-equity arm of Brookfield Asset Management Ltd.

FINANCIAL WATCHDOG FINES CANACCORD GENUITY FOR FAILURES IN ANTI-MONEY LAUNDERING CONTROLS

G&M (2025-07-04)

Canada’s financial crime watchdog has imposed a $544,500 penalty on Canaccord Genuity Inc.

AIMCO INTERIM CEO COULD EARN MILLIONS IN BONUS PAY AFTER LEADERSHIP OVERHAUL

G&M - James Bradshaw (2025-07-04)

Alberta Investment Management Corp.’s

EIGHT LESSONS LEARNED IN 27 YEARS OF COVERING PERSONAL FINANCE AND INVESTING

G&M (2025-07-04)

The modern-era reference period for economic hardship is the early 1980s, when interest rates soared into the double digits to fight inflation and the economy was weak.

JANE STREET CURBED IN INDIA AFTER $4.3 BILLION TRADING GAIN

Yahoo Finance (2025-07-04)

The Securities and Exchange Board of India said it would seize 48.4

HOME INSURANCE RATE TRANSPARENCY NEEDED AS EXTREME WEATHER COSTS RISE: COMPLAINT

BNN (2025-07-04)

The lack of information on the risks means regulators should be pushing more to have flood risk maps made public, said Taylor.

FACTORING IN THE HIDDEN COSTS OF BUY NOW PAY LATER

BNN (2025-07-04)

TransUnion said it's still in the development stage of figuring out how to integrate BNPL data, including creating a separate section on credit reports to reflect the unique nature of these products, said spokeswoman Hyunjoo Kim.

JPMORGAN NAMES NEW HEADS IN EUROPE EQUITY CAPITAL MARKETS

Bloomberg (2025-07-04)

JPMorgan Chase & Co.

TORONTO NEW HOME SALES FALL TO RECORD LOW, JUST 42 CONDOS SOLD IN THE CITY

Better Dwelling (2025-07-04)

Greater Toronto new home prices are still trending lower, but one segment showed signs of firming.

OUT-OF-PROVINCE INSURANCE ADVISORS APPLYING FOR ONTARIO LICENSING CAN GET TO WORK FASTER

Investment Executive (2025-07-04)

Under the legislation, once an applicant provides the Financial Services Regulatory Authority of Ontario (FSRA) with proof of their valid out-of-province licence, the regulator is required to provide them with a notice of receipt “within 10 business days and in accordance with the regulations.”

HOW TRUMP GOT HIS ‘BIG, BEAUTIFUL BILL’ ACROSS THE FINISH LINE

WSJ (2025-07-04)

A handful of House Republican holdouts were unhappy with provisions in Trump’s signature bill.

HOW GOLDMAN SACHS WON BIG IN THE FED’S ANNUAL STRESS TEST

FT - Joshua Franklin (2025-07-03)

Goldman Sachs stood to lose just $300mn in an economic shock under the Federal Reserve’s stress test scenario this year, vastly less than the $18bn forecast a year earlier — and a big reason for the bank’s outsized shareholder payouts. The

CHINA SAID TO SEEK ADVICE ON LOW INTEREST RATES FROM EU LENDERS

The Standard (2025-07-03)

China's central bank is reportedly seeking advice from European financial institutions on how to manage the impact of low interest rates, the Financial Times reported. The

DEUTSCHE SAYS NEW BANKING RULES COULD HAMSTRING EUROPE’S DEFENCE SPENDING

FT (2025-07-03)

Deutsche Bank has warned that stricter rules for banks might obstruct Europe’s rearmament push, after it revealed a steeper than expected capital hit from the incoming regime. Changes

US BANKS ANNOUNCE BIG SHAREHOLDER PAYOUTS AS FED EASES STRESS TESTS

Reuters (2025-07-03)

U.S.

TECH BILLIONAIRES LAUNCH EREBOR BANK TO FILL SVB’S GAP

Pymnts (2025-07-03)

Now, a group of tech billionaires is reportedly aiming to fill the space left by the lender’s demise with the launch of a new bank, known as Erebor.

PAYMENT HUBS RESCUE BANKS FROM $100 MILLION DIGITAL PAYMENTS CHAOS

Pymnts (2025-07-03)

Payment hubs serve as unified platforms that consolidate all payment processing, offering customers a fast, consistent and straightforward experience regardless of the underlying payment rail.

SANTANDER'S BET ON BRITAIN WITH TSB DEAL SHOWS BANKS' NEED FOR SCALE

Reuters (2025-07-03)

Santander's, opens new tab plan to buy TSB for 2.65

ADULT ENTERTAINMENT INDUSTRY PAYMENTS USED TO EVADE RUSSIAN SANCTIONS IN CANADA

G&M - Rita Trichur (2025-07-02)

Businesses associated with the adult entertainment industry are using Canadian payment service providers to transfer money overseas and circumvent sanctions imposed against Russia by Western countries, according to a financial intelligence report. The

GOOGLE ORDERED TO PAY US$314-MILLION FOR MISUSING CUSTOMERS’ CELL PHONE DATA

G&M (2025-07-02)

A jury in San Jose, California, said on Tuesday that Google GOOG-T misused customers’ cell phone data and must pay more than $314.6

WANT TO ‘BUY NOW, PAY LATER’ AT CHECKOUT? IT COULD SOON BE REFLECTED ON CANADIAN CREDIT SCORES

G&M (2025-07-02)

Canadians may see their use of buy-now-pay-later loans included in their credit scores in the near future, a sign that the increasingly popular instalment loans can no longer be ignored. Last

FOR HOMEOWNERS, BORROWING MONEY IS EASY. BUT HOW DO RENTERS BORROW MONEY?

G&M - ROBERT GERLSBECK (2025-07-02)

For many young Canadians, home ownership is a dream.

VENTUM FINANCIAL REACHES $2.3-MILLION SETTLEMENT WITH REGULATOR ON OVER-THE-COUNTER TRADING INFRACTIONS

G&M - CLARE O’HARA (2025-07-02)

Independent wealth manager Ventum Financial Corp.

GOLDMAN SACHS NAMES RAGHAV MALIAH AS GLOBAL CHAIRMAN OF INVESTMENT BANKING

Yahoo Finance (2025-07-02)

Goldman Sachs has appointed Raghav Maliah as a chairman of investment banking, a global position that he will take on alongside his existing regional responsibilities, according to a memo issued by the bank on Wednesday.

TESLA SHARES TAKE A HIT AS FEUD BETWEEN TRUMP AND MUSK REACHES A BOIL

BNN (2025-07-02)

“If this insane spending bill passes, the America Party will be formed the next day,” he wrote.

ALL 53 FEDERAL EXEMPTIONS IN THE CANADA FREE TRADE AGREEMENT THAT WOULD INHIBIT INTERPROVINCIAL TRADE NOW REMOVED: FREELAND

BNN (2025-07-02)

The committee on internal trade — made up of provincial ministers and premiers representing all of Canada’s provinces and territories — is also set to convene on July 8, according to the statement, at which point it will lay out any progress individual jurisdictions have made to scrap their own

THE GAMBLER'S EDGE ON WALL STREET

Bloomberg (2025-07-02)

Video: Poker.

CANADIAN REAL ESTATE MOST AFFORDABLE IN YEARS, STILL NEAR 90S BUBBLE PEAK: RBC

Better Dwelling (2025-07-02)

Canadian housing affordability improved for a fifth consecutive quarter.

IS CANADA NOW FREE OF INTERNAL TRADE BARRIERS? READ THE FINE PRINT

Investment Executive (2025-07-02)

“When I’m advising governments, I say, ‘Don’t think of this as a light switch,'” he said.

MARIE ELAINE FARLEY EXITING CSF

Investment Executive (2025-07-02)

“The government has decided to reform the regulatory framework, particularly to complete the harmonization of Quebec securities practices with pan-Canadian rules and to transfer the supervision of mutual fund representatives to the Canadian Investment Regulatory Organization,” said Farley.

U.S. BANK REGS PROPOSE EASING CAPITAL RULES

Investment Executive (2025-07-02)

However, “almost all of this capital would need to be retained within the consolidated holding company, due to holding company capital requirements, and would not become available for distribution to shareholders,” the proposal noted.

AUTOMAKERS ASK CARNEY TO REPEAL ZERO-EMISSION VEHICLE MANDATE

G&M - STEVEN CHASE, Eric Atkinson (2025-07-02)

Auto sector chief executives urged Prime Minister Mark Carney Wednesday during a meeting on the Canada-U.S.

LOOKING FOR THE BEST GIC RATES IN CANADA? IT PAYS TO SHOP AROUND

G&M - HANIF BAYAT (2025-07-02)

Many Canadians are frustrated by the low interest paid on traditional savings accounts, and with good reason.

MORE SELLERS THAN BUYERS IN ONTARIO’S PRIZED HOLIDAY REGION

G&M - CAROLYN IRELAND (2025-07-02)

House hunters in Ontario’s Prince Edward County have plenty of choice: Victorian-era farmhouses, waterfront estates and modern stacked townhouses are currently listed for sale. For

US FED BANK SUPERVISION CHIEF TAKES BUYOUT, EMAIL SAYS

Yahoo Finance (2025-07-02)

Fed Chairman Jerome Powell said in May that the central bank aimed to reduce its workforce by about 10% in coming years, aligning the bank with President Donald Trump's wider goal of shrinking the federal workforce.

CALGARY HOME SALES DROP AGAIN IN JUNE AS INVENTORY KEEPS PILING UP: BOARD

Yahoo Finance (2025-07-02)

Lurie says additional choice in the market — combined with stagnant lending rates, persistent uncertainty and concerns of price adjustments — is keeping many potential buyers on the sidelines, which "is weighing on home prices, especially for apartment and row style homes."

OTTAWA MUST PASS A LAW REVOKING DIGITAL SERVICE TAX BEFORE REFUNDS ARE ISSUED: CRA

Investment Executive (2025-07-02)

The first payment was due Monday and would have collectively cost American companies like Amazon, Google, Airbnb, Meta and Uber about US$2 billion.

AS U.S. TRADE DEAL DEADLINE LOOMS, OTTAWA BEGINS TO TEMPER EXPECTATIONS

G&M - MARK RENDELLE (2025-06-27)

Two weeks into intensive trade negotiations with the United States, Canada remains publicly committed to the goal of getting all tariffs removed.

GLOBAL SHARES ARE MOSTLY HIGHER AFTER U.S. STOCKS RISE TO THE BRINK OF A RECORD

BNN (2025-06-27)

On Thursday, the S&P 500 climbed 0.8%

CARNEY COMMITS CANADA TO BIGGEST INCREASE IN MILITARY SPENDING SINCE SECOND WORLD WAR, DOUBLING BUDGET BY 2035

Steven Chase (2025-06-26)

Prime Minister Mark Carney has committed Canada to the biggest increase in military spending since the Second World War, part of a NATO pledge designed to address the threat of Russian expansionism and to keep Donald Trump from quitting the Western alliance. Mr.

FEARS OVER US DEBT LOAD AND INFLATION IGNITE EXODUS FROM LONG-TERM BONDS

FT (2025-06-26)

Investors are fleeing long-term US bond funds at the swiftest rate since the height of the Covid-19 pandemic five years ago as America’s soaring debt load tarnishes the appeal of one of the world’s most important markets. Net

NEARLY HALF OF UK INVESTORS TURN TO SOCIAL MEDIA FOR FINANCIAL INFORMATION

FT (2025-06-26)

Nearly half of UK investors put their trust in social media, finfluencers and AI tools when making financial decisions, as unregulated sources continue to pull consumers away from professional advice. Two-fifths

IT'S EASIER THAN EVER TO TRANSFER MONEY AROUND THE WORLD. SO WHY CAN IT BE A HASSLE FOR CANADIANS?

CBC (2025-06-26)

"I went to their international money transfer web page and tried to enter all this information and had a lot of difficulty," he said.

MONTREAL ASKING RENTS UP NEARLY 71% SINCE 2019, SAYS STATSCAN

CBC (2025-06-26)

Advocates for affordable housing recently told Radio-Canada that they're on high alert in the lead-up to Quebec's July 1 moving day, with the province's housing tribunal having authorized the largest rent increase in at least three decades earlier this year.

CANADIAN PENSION FUNDS HALT US$6-BILLION SALE OF RENEWABLES COMPANY CUBICO, SOURCES SAY

G&M - ANDRES GONZALEZ AND ISLA BINNIE (2025-06-26)

Two Canadian pension funds have halted a long-running auction for renewable energy developer Cubico Sustainable Investments that they had hoped could be valued at more than US$6-billion, including debt, three people familiar with the matter said. The

THE BEST FIXED AND VARIABLE MORTGAGE RATES THIS WEEK

G&M (2025-06-26)

This week’s inflation data provided another scenario where the headline number looked good, but the details were more concerning and could point toward more interest-rate holds from the Bank of Canada. The

CANADIAN BANKING REGULATOR MAINTAINS DOMESTIC STABILITY BUFFER FOR LARGE LENDERS

G&M - Stefanie Marotta (2025-06-26)

Canada’s banking regulator has upheld the capital cushion the country’s largest lenders must keep in reserve, signalling that financial institutions are weathering the trade war and economic uncertainty wrought by escalating geopolitical tensions. The

BOFA ANALYST RAISES PRICE TARGET FOR CITI TO $100, TAKES BULLISH VIEW OF FRASER’S RESTRUCTURING

Yahoo Finance (2025-06-26)

With $2.5

BANK REGULATOR ‘GRATIFIED’ TRADE WAR HASN’T HIT CANADA HARDER

Bloomberg (2025-06-26)

The head of Canada’s financial regulator says he’s “gratified” the US’s global trade war hasn’t caused financial-system stress following preparations for a bigger hit, though he remains on alert for a sudden downturn. The

RUSSIAN BANKS FEAR DEBT CRISIS IS COMING AS WAR STRAINS ECONOMY

Bloomberg (2025-06-26)

Russia’s economy faces a worsening outlook that is graver than publicly acknowledged, with a credible risk of a systemic banking crisis in the next 12 months, according to Russian banking officials. Russian

DATA COLLECTION MODERNIZATION INITIATIVE PROGRESS UPDATE AND UPCOMING PRIORITIES

OSFI (2025-06-25)

In May 2025, the DCM implementation phase began.

INTERNATIONAL REVIEW OF CANADA’S ANTI-MONEY LAUNDERING SYSTEM WILL PUT REGULATORS IN THE HOT SEAT

G&M - Rita Trichur (2025-06-25)

One topic that will figure prominently in that evaluation is the effectiveness of regulators, including the Financial Transactions and Reports Analysis Centre of Canada – the federal financial intelligence unit – and the Office of the Superintendent of Financial Institutions – the country’s top banking regulator.

CANADA’S FIRST AI MINISTER EVAN SOLOMON ON HIS PLAN TO SCALE UP THE INDUSTR

G&M (2025-06-25)

The federal minister of artificial intelligence said building large AI companies is an “urgent issue” for Canada, but added that the country has to work with foreign companies and partner with other nations to secure the necessary capital to build out its AI sector. “We

MORTGAGE RATES BIG BANKS ADVERTISE ARE HIGHER THAN WHAT MOST PEOPLE CAN ACTUALLY GET

G&M (2025-06-25)

Let’s say you have a $500,000 mortgage.

FANNIE MAE, FREDDIE MAC ORDERED TO CONSIDER CRYPTO AS AN ASSET WHEN BUYING MORTGAGES

BNN (2025-06-25)

Pulte also instructed the agencies that their mortgage risk assessments should not require cryptocurrency assets to be converted to U.S.

CANACCORD REQUIRES STAFF TO RETURN TO OFFICE FULL TIME STARTING IN SEPTEMBER

G&M - Jameson Berkow (2025-06-24)

Independent Canadian investment bank Canaccord Genuity Inc.

EUROPEAN BANKS FACE HIT TO PROFITS IN S&P TRADE WAR STRESS TEST

Yahoo Finance (2025-06-24)

Credit Agricole and BPCE of France, Frankfurt-based Commerzbank, Dutch lender Rabobank and Denmark’s DLR Kredit stand to be hit hardest, according to calculations by the credit ratings company.

VISA DEFEATS LAWSUIT OVER ‘CARD DRAINING’ VANILLA GIFT CARD SCAM

BNN (2025-06-24)

The lead plaintiff, Ira Schuman, of Scarsdale, New York, sued Visa and two Vanilla card issuers in January 2024, after learning that eight US$500 cards he bought as holiday gifts for employees in 2022 and 2023 had been emptied.

SCOTIABANK HIRES JPMORGAN’S MCDOWELL TO LEAD CORPORATE BANKING

Bloomberg (2025-06-24)

Bank of Nova Scotia hired JPMorgan Chase & Co.

CANADIANS ARE LEAVING FOR GOOD IN RECORD HIGH VOLUMES

Better Dwelling (2025-06-24)

Canada’s focus on rapid population growth has proven to be destabilizing in many aspects—from housing to employment opportunities.

OPINION: CANADA’S NEW AML REGULATIONS ARE A WAKE-UP CALL

Investment Executive (2025-06-24)

Globally, we are seeing the emergence of collaborative models that fuse law enforcement insight, data provider reach and financial sector agility.

BIG BANKS, WORRIED ABOUT BEING TRUMP’S NEXT TARGET, RACE TO APPEASE REPUBLICANS

WSJ - By Alexander Saeedy, AnnaMaria Andriotis and Dylan Tokar (2025-06-24)

Big banks are trying to get out of the crosshairs of Republican states that are cracking down on companies for “woke” policies that conservative policymakers say are illegal and discriminatory.

HOW VISA AND MASTERCARD CAN SURVIVE THE STABLECOIN THREAT

WSJ (2025-06-24)

Stablecoins have a shot at being used in a lot of consumer payments.

EQUITABLE BANK CEO ANDREW MOOR DIES AT 65

G&M (2025-06-24)

Equitable Bank chief executive officer Andrew Moor – who built Canada’s largest challenger to the Big Six banks – died unexpectedly over the weekend at the age of 65. Mr.

SPLIT YOUR BURRITO INTO THREE PAYMENTS? THE CREEPING HORROR OF BUY NOW, PAY LATER

G&M - ROB CSERNYIK (2025-06-24)

Nobody needs a burrito badly enough to pay for it in multiple installments, yet this is the world we’re living in today. Anyone

CANADA RANKS AMONG LEAST AI LITERATE COUNTRIES IN THE WORLD: STUDY

BNN (2025-06-24)

“Certainly, there has been an under investment in Canada, in our people becoming digitally literate,” said Terrill.

JPMORGAN TRADERS ARE GETTING SHUT OUT OF PRIVATE CREDIT MARKET

Bloomberg - Ellen Schneider and Carmen Arroyo (2025-06-24)

It’s become something of a running joke in the world of private credit. About

PING AN BUILDS $23 BILLION STAKE IN CHINA BANKS ON DIVIDEND BET

Bloomberg (2025-06-24)

Ping An Insurance Group Co.,

CANADIAN INFLATION HOLDS, BANK OF CANADA RATE CUTS MAY BE OVER: RBC

Better Dwelling (2025-06-24)

CPI has been distorted by the consumer carbon tax, obfuscating some of the price growth observed by RBC.

INSURERS FACE FALLOUT FROM IRAN-ISRAEL CONFLICT: DBRS

Investment Executive (2025-06-24)

“As the conflict unfolds, insurers will be tested on their underwriting volatility, capital resilience and ability to adapt to a fast-moving risk landscape,” the report said.

INFLATION HOLDS STEADY AT 1.7% IN MAY AS RENT HIKES COOL

Investment Executive (2025-06-24)

The removal of the consumer carbon price continues to drive down gasoline costs annually, Statistics Canada said, but a smaller monthly decline in pump prices compared to this time last year limited the drop.

STABLECOINS ‘PERFORM POORLY’ AS MONEY, CENTRAL BANKS WARN

FT (2025-06-24)

The Bank for International Settlements said stablecoins fail the three main tests of any money because they are not backed by central banks, lack sufficient guardrails against illicit usage and do not have the flexibility of funding needed to generate loans. Stablecoins

REVOLUT CHIEF IN LINE FOR MUSK-STYLE PAYDAY AT $150BN VALUATION

FT (2025-06-24)

Please use the sharing tools found via the share button at the top or side of articles.

SCAMMERS ARE IMPERSONATING FINANCE EXPERTS TO STEAL MILLIONS – AND THE REAL ONES ARE STRUGGLING TO STOP IT

G&M - MARIYA POSTELNYAK (2025-06-23)

Last week, Bank of Montreal chief investment strategist Brian Belski became the latest finance heavyweight to warn his social-media followers about imposters posing as him to scam investors. Mr.

'FINANCIAL FRAGILITY IS DEEPENING': CANADIAN CREDIT CARD DATA FOR Q1 SHOW GROWING STRAIN

G&M - John MacFarlane (2025-06-23)

“Consumers with fewer banking relationships — particularly younger individuals or those relying solely on credit products — are under increasing pressure,” FICO’s report says.

BANK HOLDS INTEREST RATES BUT HINTS AT FUTURE CUTS

BBC (2025-06-23)

"Hopes for a summer rate reduction haven't completely faded, with bets ramping up that a cut in August could provide the rays of relief that borrowers have been waiting for."

IRAN STANDS ALONE AGAINST TRUMP AND ISRAEL, STRIPPED OF ALLIES

Bloomberg (2025-06-23)

Iran’s leaders are discovering they’re on their own against the US and Israel, without the network of proxies and allies that allowed them to project power in the Middle East and beyond. As

WALMART SETTLES FTC WIRE TRANSFER CASE FOR $10 MILLION

Pymnts (2025-06-23)

The FTC had alleged that Walmart had allowed its money transfer services to be used by scammers, and also failed to set up effective anti-fraud policies and procedures or train its employees, and failed to warn customers about the threat of money transfer-related fraud.

AMEX SEES ‘TREMENDOUS GROWTH’ IN VIRTUAL CARDS FOR B2B PAYMENTS

Pymnts (2025-06-23)

“As more companies embrace flexible workforces, virtual cards will play a greater role in enabling business travel and discretionary expenses,” Chaoui said.

THE IMPACT OF US TRADE POLICY ON JOBS AND INFLATION IN CANADA

BOC (2025-06-23)

New US tariffs have already shaken Canadian exporters.

REGISTRATION: ANALYST BRIEFING REGARDING THE LEVEL OF THE DOMESTIC STABILITY BUFFER (DSB)

OSFI (2025-06-23)

Zoom call Thursday, June 26, 2025, 9:45 am – 10:15 am (ET) / 6:45 am – 7:15 am (PT) Follow link to register.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

TORONTO HOME SALES CLIMB FOR THIRD STRAIGHT MONTH AS BUYERS GAIN LEVERAGE OVER SELLERS

G&M (2025-07-04)

Toronto home sales rose 8.1

BROOKFIELD SELLS US$690-MILLION IN PRIVATE-EQUITY STAKES TO SET UP FUND TARGETING WEALTHY INVESTORS

G&M (2025-07-04)

The private-equity arm of Brookfield Asset Management Ltd.

FINANCIAL WATCHDOG FINES CANACCORD GENUITY FOR FAILURES IN ANTI-MONEY LAUNDERING CONTROLS

G&M (2025-07-04)

Canada’s financial crime watchdog has imposed a $544,500 penalty on Canaccord Genuity Inc.