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.

VERSABANK TO REPORT FOURTH QUARTER AND FISCAL 2024 YEAR END RESULTS MONDAY, DECEMBER 9, 2024 AT 7:00 A.M. ET

VersaBank (2024-12-03)

VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) will report its fourth quarter and fiscal 2024 year-end financial results and host a conference call to discuss those results on Monday, December 9, 2024

FEDERAL AUDITOR SAYS PANDEMIC LOAN PROGRAM LACKED CONTROL OVER CONTRACT SPENDING

CBC (2024-12-03)

More than 90 per cent of the program's $230 million in administrative expenses was paid to Accenture, a professional services and IT company, based on sole-source contracts, the report said.

BAIT-AND-SWITCH MORTGAGE RATES ARE EVERYWHERE – HERE’S HOW TO CUT THROUGH THE HYPE

G&M (2024-12-03)

“It happens all the time,” Mr.

CENTRAL BANKS EXTEND EASING CYCLE IN NOVEMBER AS UNCERTAIN 2025 LOOMS

Yahoo Finance (2024-12-03)

Four of the six central banks overseeing the 10 most heavily traded currencies that held meetings in November lowered their lending benchmarks.

BOE’S HEAD OF FX CALLS OUT HEDGE FUNDS FOR IGNORING GLOBAL CODE

Yahoo Finance - Greg Ritchie (2024-12-03)

“There are many hedge funds that are large, sophisticated participants in the FX market, and yet virtually none have signed up to the Code.

BANKS HEAD INTO Q4 AMID EASING FEARS AROUND MORTGAGE DEFAULTS, RECESSION

BNN - Ian Bickis (2024-12-03)

The S&P TSX bank index is up around 12 per cent since last quarter’s results, including a 19 per cent gain for Scotiabank and 17 per cent climb for CIBC.

CANADIAN PER-CAPITA GDP FALLS FOR A 6TH QUARTER, SUPERSIZED CUT EXPECTED: RBC

Better Dwelling (2024-12-03)

Canada’s largest bank believes weak economic output will justify big rate cuts in a few days.

BANKS HEAD INTO Q4 WITH INVESTORS LOOKING FOR BETTER DAYS AHEAD

Investment Executive - Ian Bickis (2024-12-03)

The exception is TD, which was hit with a US$3 billion fine and growth limits in the U.S.

BOC RATE DECISION: COULD CANADIANS EXPECT MORE CUTS?

BNN (2024-12-03)

As the Bank of Canada prepares to announce their December rate decision, could Canadians expect more cuts? Wealth advisor Greg Newman shares his predictions.

VIETNAMESE TYCOON LOSES DEATH ROW APPEAL OVER WORLD'S BIGGEST BANK FRAUD

BBC - Thu Bui (2024-12-03)

Vietnamese property tycoon Truong My Lan has lost her appeal against her death sentence for masterminding the world’s biggest bank fraud.

TRUMP THREATENS 100% TARIFF ON BRICS NATIONS IF THEY TRY TO REPLACE DOLLAR

BBC - Holly Honderich (2024-12-03)

Leading politicians in Brazil and Russia have suggested creating a Brics currency to reduce the US dollar's dominance in global trade.

BANK OF CANADA PUBLISHES APPLICANTS’ LIST OF RETAIL PAYMENT SERVICE PROVIDERS

OSFI (2024-12-03)

There are over 1,200 applicants.

CI FINANCIAL’S SALE IS MORE BAILOUT THAN VINDICATION

G&M - David Milstead (2024-12-02)

Bill Holland and Kurt McAlpine deserve some degree of credit for selling CI Financial for a price roughly twice what the shares traded for during much of this year. Now,

BROOKFIELD ABANDONS PLAN FOR €6.45-BILLION TAKEOVER OF DRUG MAKER GRIFOLS

G&M - James Bradshaw (2024-12-02)

Brookfield Asset Management Ltd.

AIMCO’S INTERIM CEO EXPECTED TO BE FIXTURE OF ALBERTA GOVERNMENT’S LONG-TERM PLANS FOR FUND MANAGER

G&M - Carie Tait, James Bradshaw (2024-12-02)

Alberta’s $169-billion public-sector pension fund manager is taking the first steps to rebuild its senior ranks after two weeks of upheaval, but one key figure who emerged in the abrupt transition is expected to stay put: interim chief executive officer Ray Gilmour. Alberta’s

CANADA'S ECONOMY MISSES BOC FORECAST, PUSHING UP ODDS OF JUMBO RATE CUT IN DECEMBER

Yahoo Finance - Alicja Siekierska (2024-12-02)

Canada's economy grew 1 per cent annually in the third quarter, Statistics Canada said on Friday, as real gross domestic product (GDP) expanded by 0.1

TD BANK TAPS HSBC CANADA'S FORMER CHIEF COMPLIANCE OFFICER, SOURCES SAY

G&M - Nivedita Balu (2024-12-02)

She was appointed chief compliance officer for HSBC Bank Canada in 2020 and moved to RBC earlier this year after it acquired HSBC's domestic unit for $10 billion.

JPMORGAN REJECTS TRANSITION-FINANCE TREND GRIPPING WALL STREET

Yahoo Finance - Alistair Marsh (2024-12-02)

“To state what should be obvious, finance will only move when there’s an economically viable business case,” French said in an interview.

INVESTMENT BANKS WILL LOSE BILLIONS OF DOLLARS TO PRIVATE RIVALS

Bloomberg - PAUL J. DAVIES (2024-12-02)

Big banks have been warning their investors about the competition they face from private credit, electronic market makers and others for some time.

CANADIANS GROWING FRUSTRATED BY GREENWASHING: TRUDEAU

Investment Executive - Jonathan Got (2024-12-02)

However, progress in Canada has been slow.

THE BANK OF CANADA WILL CHART ITS OWN COURSE IN 2025: MACKENZIE INVESTMENTS

Investment Executive (2024-12-02)

“They will have an independent path for cutting rates,” she said.

INVEST IN BANKING LIKE WARREN BUFFETT: OWN A ‘CASTLE’

WSJ - Telis Demos (2024-12-02)

Warren Buffett has said he looks for businesses that are like castles, protected by moats.

ELON MIGHT GET HIS BANK

FT - Roula Khalaf, (2024-12-02)

Owning a US bank is hard — deliberately so.

GEORGE OSBORNE AMONG FOUR ROBEY WARSHAW PARTNERS TO SPLIT £70MN

FT (2024-12-02)

George Osborne, the former UK chancellor, is among a group of four partners at Robey Warshaw to share £70mn in profits after the boutique advisory firm posted record revenues on rising deal activity in London.  Annual

WILL THE FED REALLY ‘LOSE CONTROL’ OF THE BOND MARKET?

G&M - Jamie McGeever (2024-11-29)

When Federal Reserve Chair Jerome Powell and his colleagues meet this week to discuss their next interest rate move, they’ll face a much more complicated situation than they did only two months ago, due to the historic rise in long-dated Treasury yields since the central bank’s jumbo rate cut on

BANK EARNINGS EXPECTED TO SHOW A FINAL SLUMPING QUARTER AHEAD OF MORTGAGE WARS AND LOAN GROWTH NEXT YEAR

G&M - Stefanie Marotta (2024-11-29)

Lower interest rates could prod Canadian banks into a mortgage competition next year as the cost of borrowing drops and swaths of fixed-rate loans come up for renewal. Canada’s

CHINA’S TENCENT UNCLOAKED AS MYSTERY LEAD BACKER OF NEO’S $100-MILLION-PLUS FINANCING

G&M - Sean Silcoff, Jameson Berkow, James Bradshaw (2024-11-29)

Neo did not reveal its lead investor when it announced the deal two weeks ago and has rebuffed queries about its identity.

ALREADY SOARING, SHOPIFY STOCK COULD SEE MORE BLACK FRIDAY UPSIDE: SCOTIA CAPITAL

Yahoo Finance - John MacFarlane (2024-11-29)

“Still, we think the stock can continue to move higher to close out the year,” Krishnaratne wrote, despite the company’s valuation currently exceeding that of peers by a substantial amount, due to “positive newsflow in and around this weekend.”

TD BANK, BMO IN SPOTLIGHT AS CANADA'S BIG BANKS GET SET TO REPORT EARNINGS

Yahoo Finance - Naimul Karim (2024-11-29)

After getting fined about US$3.1

EURO CAPS WORST MONTH IN OVER A YEAR AS GROWTH OUTLOOK WORSENS

BNN - Naomi Tajitsu (2024-11-29)

“Europe is now a consensus short,” said Luca Paolini, chief global strategist at Pictet Asset Management.

A SIMPLER CITIGROUP BEGINS TO TAKE SHAPE

WSJ (2024-11-29)

Citigroup C 0.59%increase;

BRIDGING INVESTORS MAY FINALLY SEE SOME MONEY

Investment Executive (2024-11-29)

According to court filings, PwC has so far recovered $698 million of the funds’ assets (as of Oct.

CFPB FINALIZES DIGITAL PAYMENTS RULE, EXCLUDES DIGITAL ASSETS

Coingeek (2024-11-29)

The agency has finalized the rule, allowing it to supervise digital payment platforms and ensure they adhere to federal laws, similar to banks and credit unions.

WITH TARIFFS THREATS, DONALD TRUMP MAKES A GOOD POINT ON CANADA’S COMPLACENCY

G&M - GILES GHERSON (2024-11-28)

There’s a lesson here for Canada and it’s going to be a painful one.

CANADIAN REGULATORS PROBE MUTUAL-FUND SALES PRACTICES AT BANKS

Yahoo Finance - Barbara Shecter (2024-11-28)

The OSC has previously looked at whether banks were giving preference to their own fund products over those of third parties after it was directed to do so by Ontario’s minister of finance Peter Bethlenfalvy.

THE WORLD’S BIGGEST BUYERS OF GOLD ARE NOW AMONG EAST EUROPEAN CENTRAL BANKS

Yahoo Finance - Peter Laca (2024-11-28)

Earlier this year, the Czech Republic’s central bank chief flew to London to have a look at a swelling stack of gold (GC=F) bars stored in the Bank of England’s concrete-encased vaults beneath Threadneedle Street.

BANK OF CANADA UNLIKELY TO CEASE RATE CUTS AMID TRADE RISKS: TD ECONOMICS

BNN - Daniel Johnson (2024-11-28)

“The latter is edging out the odds, but the broad takeaway is that the BoC (Bank of Canada) is unlikely to halt its rate-cutting cycle just yet, and particularly amidst escalating trade risks that are net negative for economic growth, despite a near-term inflation spike,” the report said.

US MORTGAGE RATES DROP, EASING PRESSURE ON POTENTIAL BUYERS

Bloomberg - Alex Perry (2024-11-28)

Buyers are moving ahead, signing more contracts in October.

CANADIAN MORTGAGE RATES TO RISE, HOUSING UNAFFORDABLE UNTIL 2035: OXFORD ECON

Better Dwelling (2024-11-28)

The decline in fixed-term mortgage rates is forecast to stall around this level before climbing.

CHRISTMAS COMES EARLY FOR FAIR CANADA

Investment Executive - James Langton (2024-11-28)

“FAIR provides an important and independent voice for investors, advocating for their interests on securities policy issues.

RBC, TD REMAIN CANADA’S ENTRANTS ON FSB LIST

Investment Executive - James Langton (2024-11-28)

There is still no bank in the top bucket.

AMERICA’S US$7-TRILLION CASH STASH ISN’T GOING ANYWHERE

G&M - Jamie McGeever (2024-11-27)

A record-high US$7-trillion of cash is currently sitting “on the sidelines” in money market funds (MMFs).

LOONIE FALLS TO LOWEST SINCE 2020 AFTER TRUMP THREATENS TARIFFS ON CANADIAN GOODS

Yahoo Finance - Craig Wong (2024-11-27)

The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January.

CANADA'S FINANCIAL INTELLIGENCE AGENCY AIMING TO PROVIDE CRUCIAL INFO IN REAL TIME

Yahoo Finance - Jim Bronskill (2024-11-27)

In a message in the report, Fintrac director Sarah Paquet says the agency aims to harness modern skills, tools and technologies to analyze data and produce intelligence in real time.

WALL STREET EYES M&A REVIVAL IF NEW TRUMP ADMINISTRATION USHERS IN LOWER RATES, LOOSER SCRUTINY

Yahoo Finance - Damian J. Troise (2024-11-27)

The number of deals and their value are both below pre-pandemic levels.

ORCEL’S UNAPOLOGETIC HUNT FOR BANK DEALS WILL SHAPE HIS LEGACY

Yahoo Finance - Sonia Sirletti (2024-11-27)

A takeover of Banco BPM would enable Orcel to create Italy’s biggest bank, just as a takeover of Commerzbank would boost UniCredit’s position as one of the very few European lenders that operates fully fledged services across national borders.

COUCHE-TARD MISSES ON EARNINGS, HIKES DIVIDEND

BNN (2024-11-27)

Andrew Pyle, CIBC Wood Gundy senior investment advisor, talks about Alimentation Couche-Tard's Q3 earnings reporting below projections and a dividend increase.

ECB’S SCHNABEL WARNS AGAINST CUTTING RATES TOO FAR

Bloomberg (2024-11-27)

ECB should not go accommodative on rates.

HSBC LOSES EU COURT CLASH OVER €32 MILLION EURIBOR-RIGGING FINE

BNN (2024-11-27)

The judgment is the latest round in a series of challenges to the EU’s findings in the Euribor case.

U.S. FED MINUTES SIGNAL MORE CAUTION INFLATION PROGRESS STALLS

BNN (2024-11-27)

Veronica Clark, economist of Citi, talks about the latest U.S.

US SANCTIONS HIT RUBLE AS RUSSIA’S FX SOURCES ARE DRYING UP

Bloomberg (2024-11-27)

Fresh US sanctions against Russian banks have caused a further slide in the ruble, putting at risk some of the last channels of direct foreign-currency flows into the country. The

CANADIAN NEW HOME PRICES MADE THE BIGGEST DROP SINCE 2009

Better Dwelling (2024-11-27)

Generally speaking, new home prices are moving towards stabilizing—at the very least.

CANACCORD SAYS ‘THERE IS NO PLAN’ TO SELL ITS U.K. WEALTH MANAGEMENT DIVISION

Investment Executive (2024-11-27)

The company said in a statement Tuesday that it doesn’t comment on rumours or speculation, but felt it was warranted given that a U.K.-based

A LIST OF CANADIAN BANK EARNING REPORTS

Marketbeat - Mark Sibthorpe (2024-11-27)

RBC 12/4/2024 BMO 15/5/2024 CIBC 12/5/2024

TRUMP VOWS TO IMPOSE 25-PER-CENT TARIFFS ON ALL PRODUCTS FROM CANADA, MEXICO

G&M - Steven Chase, Adrian Morrow (2024-11-26)

Prime Minister Justin Trudeau spoke with Mr.

AIMCO’S INTERIM CEO EXPECTED TO BE FIXTURE OF ALBERTA GOVERNMENT’S LONG-TERM PLANS FOR FUND MANAGER

G&M - James Bradshaw (2024-11-26)

Alberta’s $169-billion public-sector pension fund manager is taking the first steps to rebuild its senior ranks after two weeks of upheaval, but one key figure who emerged in the abrupt transition is expected to stay put: interim chief executive officer Ray Gilmour. Alberta’s

CONSUMER DEBT CONTINUES TO GROW, REACHING RECORD $2.5T, CREDIT BUREAUS SAY

Yahoo Finance (2024-11-26)

Another credit bureau, TransUnion, says total consumer credit debt rose 4.1

JPMORGAN PURSUES DEALS TO FUND SHUTDOWN OF COAL-FIRED POWER

Yahoo Finance - Natasha White (2024-11-26)

The current lack of clarity around how to treat coal in climate finance is slowing down public decision making in awarding contracts, Subramaniam said.

MACQUARIE FINED BY UK AFTER METALS TRADER BOOKS FALSE TRADES

Yahoo Finance - Jonathan Browning (2024-11-26)

UK authorities fined Macquarie Bank Ltd.’s

BANKS BRACE FOR MAMMOTH PAYOUTS AFTER COURT’S CAR LOAN RULING

Bloomberg - Eleanor Thornber (2024-11-26)

A court ruling that challenges the legality of car loan commission payments is ringing alarm bells in the UK banking industry. The

TORONTO NEW HOME PRICES DOWN MORE THAN 30%, CONDO SALES DOWN 91%

Better Dwelling (2024-11-26)

Greater Toronto new home prices are still in free fall, reversing years of gains.

BARCLAYS DROPS FCA APPEAL, TAKES £40 MILLION FINE

Investment Executive - James Langton (2024-11-26)

Back in 2022, the FCA sought to impose a £50 million fine on Barclays after finding that the bank was allegedly reckless in its disclosure to investors regarding an arrangement to raise capital from Qatari investors in mid-2008, at the height of the financial crisis.

ADMINISTRATION OF NEGOTIATED CONTRIBUTION PLANS

OSFI (2024-11-26)

Goal: set out the Office of the Superintendent of Financial Institutions’ (OSFI) expectations for managing the funding limitations of NCPs, highlight differences in requirements with respect to funding and determination of pension benefit credits for NCPs as compared to other defined benefit pension plans, and describe the enhanced disclosure that

HOW MORGAN STANLEY COURTED DODGY CUSTOMERS TO BUILD A WEALTH-MANAGEMENT EMPIRE

WSJ - ANNAMARIA ANDRIOTIS (2024-11-26)

The bank informed law enforcement and shut down the accounts.

DISCOVER FINANCIAL SERVICES TO RESTATE SEC FILINGS ON CREDIT CARD MISCLASSIFICATION

WSJ - Sobela Ojea (2024-11-26)

The decision comes after last year an internal review found it had misclassified certain credit-card accounts beginning in 2007, incorrectly placing them in the highest merchant-and-acquirer pricing tier.

SEC COLLECTS RECORD $8.2 BILLION IN FINANCIAL PENALTIES IN 2024

WSJ - Mark Vartabedian (2024-11-26)

The record amount imposed in financial penalties—two-thirds more than the $4.9

ALLOWING A PERIOD OF PRICE DECLINES WOULD BE ‘PAINFUL’ FOR CANADIANS: BOC OFFICIAL

Toronto Star (2024-11-26)

“Even though it may seem counterintuitive – it would be painful for many Canadians if we were to try to bring about a period of price declines,” Mendes said in prepared remarks.

ACTUARIAL REPORT (20TH) ON THE PENSION PLAN FOR THE PUBLIC SERVICE OF CANADA AS AT 31 MARCH 2023

OSFI (2024-11-26)

Main findings for actuarial report on the Pension plan for the Public Service of Canada as at 31 March 2023

STICKING THE LANDING: KEEPING INFLATION AT 2%

BOC (2024-11-26)

Monetary policy affects the economy primarily through its influence on demand.

U.S. PRIVATE EQUITY FIRMS CIRCLING CI FINANCIAL WITH POTENTIAL FOR PRIVATIZATION, SOURCES SAY

G&M - Clare O'Hara (2024-11-25)

CI Financial Corp.

OTTAWA IS CAPPING FEES ON BOUNCED CHEQUES. HERE’S WHY IT’S A BAD IDEA

G&M - John Turley-Ewart (2024-11-25)

John Turley-Ewart is a regulatory compliance consultant and Canadian banking historian. The

TD BANK APPOINTS NEW GLOBAL CHIEF AUDITOR AS ANITA O’DELL ANNOUNCES RETIREMENT

G&M - Stefanie Marotta (2024-11-25)

Toronto-Dominion Bank’s TD-T global chief auditor is leaving the bank as Canada’s largest lender works on remediating its anti-money-laundering failings with U.S.

CANADIANS’ CREDIT RISK RISES AS MISSED PAYMENTS, DEBT LEVELS GROW

Yahoo Finance - Alicja Siekierska, Jeff Lagerquist and John MacFarlane (2024-11-25)

The average score in April 2024 was 760, down two points from a year earlier, and comes alongside data that show “an upward trend in consumer missed payments and debt levels,” according to FICO’s report.

HIDDEN BANK OF CANADA CLUES POINT TO ANOTHER BIG CUT: CIBC ECONOMISTS

Yahoo Finance - John MacFarlane (2024-11-25)

In addition to dropping the overnight rate 50 basis points to 3.25

GOLD JUST TOPPED $2,700 AN OUNCE, BUT HERE’S WHY THAT PRICE COULD DOUBLE OVER THE NEXT HALF DECADE

BNN - Kristian Koschany (2024-11-25)

Goldman Sachs and UBS both issued bullish outlooks for gold in recent days, underscoring expectations of continued gains next year.

UNICREDIT’S BPM CURVEBALL LEAVES MELONI SCRAMBLING ON BANKING PLAN

bnn - Donato Paolo Mancini, Alessandra Migliaccio, and Sonia Sirletti (2024-11-25)

UniCredit SpA’s surprise bid for Banco BPM SpA has left Prime Minister Giorgia Meloni’s government struggling to work out if its plans to create Italy’s third major banking group are now defunct.

BOFA SEES 5% EM CURRENCY SLIDE AS TRADE WAR RISKS UNDERPRICED

Bloomberg - Kerim Karakaya (2024-11-25)

Investors are underestimating trade war risks under a Donald Trump presidency, according to strategists at Bank of America Corp.

UNICREDIT MAKES $10.5 BILLION BID FOR ITALIAN RIVAL, SETTING SIGHTS CLOSER TO HOME

WSJ (2024-11-25)

UniCredit UCG -3.64%decrease;

IT’S OFFICIAL: DFSA CREDENTIAL NO LONGER QUALIFIES FOR FA TITLE USE

Investment Executive - Michelle Schriver (2024-11-25)

FSRA has removed the DFSA from its approved credentials list.

CREDIT CARD PERFORMANCE STABLE IN Q3: FITCH

Investment Executive - James Langton (2024-11-25)

For instance, the three-month average for late-stage delinquencies, defined as balances that are at least 60 days past due, came in at 1.12%,

AVERAGE 30-YEAR MORTGAGE RATE IN THE U.S. RISES TO HIGHEST LEVEL SINCE JULY

Investment Executive - Alex Veiga (2024-11-25)

The average rate on a 30-year mortgage fell to a two-year low of 6.08%

MORTGAGE STRESS TESTS AND HOUSEHOLD FINANCIAL RESILIENCE UNDER MONETARY POLICY TIGHTENING

BOC - Jonathan Hartley, Nuno Paixão (2024-11-25)

In Canada, 39% of households have a mortgage (Statistics Canada 2024).

CLIMATE GROUP CALLS ON TD BANK TO REVIEW BOARD PRACTICES, POLICIES

G&M - Stefanie Morotta (2024-11-22)

A shareholder advocacy group is calling on Toronto-Dominion Bank TD-T to launch an independent review of its board of directors after an investigation by U.S.

‘THIS SHOULD ALL BUT CLOSE THE DOOR TO A 50 BPS RATE CUT’: HOW ECONOMISTS AND MARKET BETS FOR BOC MOVES ARE REACTING TO TRUDEAU’S TAX HOLIDAY

G&M - Darcy Keith (2024-11-22)

Prime Minister Justin Trudeau’s suite of new fiscal spending measures aimed at helping to ease cost of living pressures have markets and some economists nearly ruling out a jumbo-sized rate cut by the Bank of Canada next month. Ottawa

CANADIANS’ CREDIT RISK RISES AS MISSED PAYMENTS, DEBT LEVELS GROW

Yahoo Finance - John MacFarlane (2024-11-22)

FICO’s data show the number of Canadians 90 or more days past due on payments in the past six months has risen 9.6

GOLDMAN, MORGAN STANLEY, BOFA ASK BUYERS OF BANK RISK TO DISCLOSE LEVERAGE

Yahoo Finance (2024-11-22)

US banks including Goldman Sachs Group Inc.,

MORTGAGE STRESS TEST CHANGES TO INCREASE LENDER COMPETITION: REAL ESTATE EXPERTS

BNN - Daniel Johnson (2024-11-22)

The Office of the Superintendent of Financial Institutions (OSFI) announced Thursday that uninsured mortgage straight switches will be exempt from the minimum qualifying rate (MQR).

ADANI BRIBERY CHARGES ADD TO QUEBEC PENSION’S INDIA NIGHTMARE

Bloomberg (2024-11-22)

US bribery charges against Indian billionaire Gautam Adani have ensnared one of Canada’s largest public pension managers, deepening its embarrassment over a renewable-energy investment that went sour.

BANK EXECUTIVES MUST MANAGE CULTURE RISK, CANADA REGULATOR SAYS

Bloomberg - Melissa Shin (2024-11-22)

Canada’s banking and insurance regulator said it expects executives and boards to be accountable for their company culture, and it’s beefing up its rules on how to do that. The

CIFP DROPS CLAIM AGAINST FP CANADA OVER CREDENTIAL APPROVED UNDER ONTARIO’S TITLE PROTECTION

Investment Executive - Michelle Shriver (2024-11-22)

Following that approval, FP Canada issued a statement saying consumers could confuse the Chartered Financial Planner with the designation FP Canada oversees — Certified Financial Planner (CFP) designation, which is subject to global financial planning standards.

BASEL III CAPITAL REFORMS GET PUSH FROM GLOBAL REGULATORS

Investment Executive - James Langton (2024-11-22)

With banking regulators in several jurisdictions delaying or watering down their adoption of the latest edition of the global capital rules, known as Basel III, the Basel Committee on Banking Supervision said it expects the new regime to be fully implemented as soon as possible.

RBI DEFENDS FX POLICY AS INDIA’S ATTEMPT TO AVERT GLOBAL RISKS

Yahoo Finance (2024-11-21)

The nation is trying to insulate its economy from global spillovers and financial stability risks by keeping the currency stable, the Reserve Bank of India said in its monthly bulletin, as the rupee is one of the least volatile currencies in the world.

BITCOIN CLIMBS CLOSER TO $100,000 ON TRUMP’S SUPPORT FOR CRYPTO

Yahoo Finance - Sunil Jagtiani (2024-11-21)

The largest digital asset rose as much as 3.6%

MANULIFE REACHES REINSURANCE DEAL WORTH $5.4 BILLION TO FREE UP CAPITAL

BNN (2024-11-21)

Manulife says the deal should release $800 million in capital that it plans to return to shareholders through share buybacks.

‘STEADILY CLIMBING’ TSX FINISHING YEAR STRONG AFTER RECORD-BREAKING 2024: STRATEGIST

BNN - Jordan Fleguel (2024-11-21)

“If you see any change in the oil price higher because of geopolitical risk emanating out of the Middle East or if we just start to see prices just gradually increase… that’s good for the energy sector and that’s good for the TSX overall.”

BUNDESBANK VIGILANT ON COMMERCIAL PROPERTY IN ‘WEAK’ ECONOMY

BNN - Nicholas Comfort (2024-11-21)

“The financial system is facing acute challenges due to geopolitical tensions and a weak economy,” said Michael Theurer, a member of the Bundesbank’s executive board.

BANKS HOPING FOR LOOSER TRUMP REINS ARE TOO GIDDY

Bloomberg - PAUL J. DAVIES (2024-11-21)

US banks enjoyed a sharp stock price jump on Donald Trump’s election victory; two weeks later, they’ve held onto those gains.

CANADIAN HELOC BORROWING IS BACK, RISING NEARLY AS FAST AS MORTGAGES

Better Dwelling (2024-11-21)

Canadian households are diving back into HELOC debt after an extended break.

BANKS’ COMPENSATION MODELS NEED WORK: FSB

Investment Executive - James Langton (2024-11-21)

“Compensation and related performance management mechanisms help signal the importance that financial institutions place on prudent management of risk and on standards of behaviour, including compliance with related laws, regulations and supervisory expectations,” it said

CENTRAL BANKS TO MAINTAIN INDEPENDENCE DESPITE THREATS – PANEL

Central Banking - Christopher Jeffery (2024-11-21)

A panel of governors and deputy governors has said they expect their institutions to remain operationally independent over the next five years.

ECB VICE-PRESIDENT WARNS OF US AI BUBBLE

Reuters - Paul Hannon (2024-11-21)

The European Central Bank warned on Wednesday about a "bubble" in stocks related to artificial intelligence (AI), which could burst abruptly if investors' rosy expectations are not met. The

OSFI'S FALL QUARTERLY RELEASE: UNVEILING NEW RISK GUIDELINES, ADJUSTING MORTGAGE STANDARDS AND EASING REGULATORY BURDEN

OSFI (2024-11-21)

Today, the Office of the Superintendent of Financial Institutions (OSFI) held its fall Quarterly Release and announced measures that will streamline and strengthen its regulatory and supervisory oversight.

ALBERTA APPOINTS FORMER PRIME MINISTER STEPHEN HARPER TO CHAIR AIMCO BOARD

G&M - James Bradshaw (2024-11-21)

Alberta’s government appointed former prime minister Stephen Harper as chairman of the province’s $169-billion public-sector pension fund manager and added a senior government official to its board, signalling a shift in governance at Alberta Investment Management Corp.

PRIVATE REAL ESTATE INVESTOR KINGSETT HALTS DISTRIBUTIONS AND REDEMPTIONS ON $1.9-BILLION FLAGSHIP FUND

G&M - RACHELLE YOUNGLAI (2024-11-21)

KingSett Capital Inc.,

FORMER CAISSE EXECUTIVES FACE U.S. CHARGES IN ALLEGED BRIBERY SCHEME INVOLVING INDIAN BILLIONAIRE

G&M - James Bradshaw (2024-11-21)

Prosecutors in the United States have charged three former executives of Quebec-based pension fund manager Caisse de dépôt et placement du Québec with obstructing an investigation into an alleged bribery scheme involving Indian billionaire Gautam Adani. The

KLARNA’S US LISTING IS A SAD REFLECTION OF EUROPE’S FAILINGS

FT - Richard Milne (2024-11-20)

Klarna should be the kind of story Europe dreams of.

CLIMATE ACTION TO HAVE ‘LIMITED IMPACT’ ON FINANCIAL SYSTEM, EU FINDS

FT - Martin Arnold (2024-11-20)

European regulators found there would be only a “limited impact” on the financial system from the EU’s drive to cut carbon emissions by 55 per cent by 2030, even if it caused investors to ditch polluting companies. The

INFLATION TICKED UP TO 2% IN OCTOBER AFTER PREVIOUS MONTH'S STEEP DROP IN GAS PRICES

CBC - Jenna Benchetrit (2024-11-20)

"I'd say the two big factors here were a big annual increase in property taxes and a bit of a backup in gasoline prices.

AUTOMATIC DEPOSITS, PAYMENTS DELAYED AT CREDIT UNIONS ACROSS PRAIRIES DUE TO NETWORK OUTAGE

CBC (2024-11-20)

Credit unions across Manitoba, Saskatchewan and Alberta had notices on their websites advising of the outage on Friday morning.

CANADIAN PENSION FUNDS EXPOSED AS BATTERY MAKER NORTHVOLT STRUGGLES TO SURVIVE

G&M - Jeffrey Jones, James Bradshaw (2024-11-19)

Several Canadian pension funds have sizable financial exposure in the event of a bankruptcy filing by Northvolt AB, the Swedish battery maker that is burning through cash as growth in demand for electric vehicles lags expectations. Canada

MANULIFE CEO ROY GORI PLANS TO RETIRE NEXT YEAR IN SURPRISE ANNOUNCEMENT

G&M - Clare O'Hara (2024-11-19)

Manulife Financial Corp.

ONCE WORTH $30 BILLION, HWANG SAYS HE’S JUST A MILLIONAIRE NOW

Yahoo Finance - Chris Dolmetsch (2024-11-19)

Hwang, who faces sentencing Wednesday in New York for fraud and market manipulation tied to Archegos’ spectacular 2021 collapse, estimated his current wealth in a Monday court filing.

MORGAN STANLEY, GOLDMAN CALL FOR GREATER CHINA TRANSPARENCY

Yahoo Finance (2024-11-19)

Speaking on the same panel, his counterpart at Goldman Sachs, David Solomon, said there was still a combination of issues that has kept global investors from deploying capital in the world’s second-largest economy.

A NUDGE FROM JPMORGAN SPURRED UK TO PROBE STALEY’S EPSTEIN LINKS

Yahoo Finance (2024-11-19)

JPMorgan informed the Financial Conduct Authority in November 2019 that it had identified “various documents” that showed the relationship between Staley, a former senior JPMorgan executive, and the late pedophile financier, according to a London court filing.

SWEDEN’S $400 BILLION PENSION SHAKEUP THREATENS SMALLER FUNDS

Yahoo Finance (2024-11-19)

Sweden’s smaller asset managers face a Darwinian struggle for survival as major reforms slash the number of funds that savers can choose after a fraud scandal rocked the country’s $400 billion pension industry.

SHOPIFY HOLDS INCREASING SWAY IN CANADIAN EQUITY FUNDS: DALE JACKSON

BNN - Dale Jackson (2024-11-19)

Investors who get exposure to Canadian equities through market-weighted exchange traded funds (ETFs) and even Canadian equity mutual funds might be surprised that one company has taken a more influential role in the benchmark S&P/TSX Composite Index.

CANACCORD ACQUIRES WOOD GUNDY ADVISORY TEAM WITH $1B IN CLIENT ASSETS

Investment Executive - Noushin Ziafati (2024-11-19)

The Sutherland Group is led by portfolio manager and investment advisor Fraser Sutherland, who said in the release that his team made the move to Canaccord because it saw in the firm an “entrepreneurial culture and a tech-forward platform that enables us to elevate our client offering.”

THE YAWNING INVESTABILITY GAP BETWEEN US BANKS AND UK PEERS

FT - Patrick Jenkins (2024-11-19)

Optimists express confidence that the “special relationship” between the US and UK will survive even Donald Trump’s most anarchic instincts.

OTTAWA TAKES AIM AT CORPORATE INVESTORS BUYING SINGLE-FAMILY HOMES

G&M - RACHELLE YOUNGLAI (2024-11-19)

It is not clear if there are many of these types of investors in Canada.

TRADERS TRIM BETS ON BIG CANADA RATE CUT AFTER INFLATION UPTICK

BNN - Randy Thanthong-Knight (2024-11-19)

After the release, traders in overnight swaps trimmed their bets for a second consecutive rate cut to about one in three, from a little less than a coin flip previously.

CANADIAN INFLATION SURPRISES HIGHER, PROPERTY TAXES SOAR MOST SINCE 1992

Better Dwelling (2024-11-19)

Canadian headline inflation made an aggressive push higher.

WE CAN’T GIVE UP PAPER CHECKS, AND THAT’S A GOLD MINE FOR SCAMMERS

WSJ - Oyin Adedoyin, Justin Baer (2024-11-19)

A message appeared this month on an app where people often congregate to trade tips on committing check fraud.

THINGS ARE QUIET IN CONSUMER CREDIT. TOO QUIET.

WSJ (2024-11-19)

Lenders are open for business.

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.

VERSABANK TO REPORT FOURTH QUARTER AND FISCAL 2024 YEAR END RESULTS MONDAY, DECEMBER 9, 2024 AT 7:00 A.M. ET

VersaBank (2024-12-03)

VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) will report its fourth quarter and fiscal 2024 year-end financial results and host a conference call to discuss those results on Monday, December 9, 2024

FEDERAL AUDITOR SAYS PANDEMIC LOAN PROGRAM LACKED CONTROL OVER CONTRACT SPENDING

CBC (2024-12-03)

More than 90 per cent of the program's $230 million in administrative expenses was paid to Accenture, a professional services and IT company, based on sole-source contracts, the report said.

BAIT-AND-SWITCH MORTGAGE RATES ARE EVERYWHERE – HERE’S HOW TO CUT THROUGH THE HYPE

G&M (2024-12-03)

“It happens all the time,” Mr.