Keyword
Bank of Montreal
Statistics Canada says real GDP contracted by 0.1% in August
October 31, 2017 Craig Wong - THE CANADIAN PRESSOTTAWA – The Canadian economy hit reverse in August, its first monthly pullback since October last year. “The amazing run of amazing Canadian economic data is officially over, with growth coming back to reality in a hurry,” Bank of Montreal…
Loblaw to keep operating PC Financial home & auto brokerage after ending banking relationship with CIBC
August 17, 2017 by Canadian UnderwriterPC Financial Insurance Broker Inc. – which places home and auto insurance in Ontario, Alberta and Atlantic Canada – will continue to be owned and operated by grocery and drug retailer Loblaw Companies Ltd., a PC Financial spokesperson told Canadian Underwriter Wednesday.
President’s Choice Bank, a Loblaw unit, announced Wednesday it has ended its 20-year relationship with the Canadian Imperial Bank of Commerce.
“Everyday banking products, including savings, chequing and mortgage accounts, previously offered under the President’s Choice Financial brand will continue to be provided by CIBC, under new branding…
Mandatory breach notification in Canada has ‘potential to effectively cause’ class-action lawsuits: PCUC speaker
November 25, 2016 Greg Meckbach, Associate EditorImpending changes to Canada’s Personal Information Protection and Electronic Documents (PIPEDA) could “effectively cause more class-action” lawsuits down the road because companies will be required to report information security breaches that pose “a real risk of significant harm,” a lawyer…
Lawyer warns of privacy breach damages to victims who are a ‘little bit annoyed’
November 23, 2016 Greg Meckbach, Associate EditorThe rise of class action lawsuits alleging privacy breaches is raising the question of whether a corporation can be held vicariously liable when employees cause privacy violations to plaintiffs who do not actually prove they were harmed, a lawyer warned…
Bank of Canada raises concerns about economy, holds interest rate at 0.5%
September 7, 2016 Craig Wong - THE CANADIAN PRESSOTTAWA – The Bank of Canada struck a note of caution Wednesday as it held its key interest rate target steady at 0.5 per cent and raised concerns after the export sector disappointed earlier this year. “While the strength in…
Canadian banks shake off oilpatch fears, report better than expected earnings
August 26, 2016 Alexandra Posadzki - THE CANADIAN PRESSTORONTO – Panic about how the oil price shock could affect the banks’ bottom lines has subsided, as several of the country’s largest financial institutions reported better-than-expected third-quarter results. CIBC (TSX:CM) reported that its quarterly profit climbed nearly 50 per…
Supreme Court of Canada to hear $5.4-million conversion lawsuit against banks arising from plaintiff’s employee’s cheque fraud
August 19, 2016 by Canadian UnderwriterA $5.4-million lawsuit – initially filed against four Canadian banks – arising from fraudulent cheques requisitioned by the plaintiff’s employee, will be heard by the Supreme Court of Canada. Canada’s highest court announced Thursday it granted leave to appeal to…