The Financial Consumer Agency of Canada announced that its next review of business practices in the federally regulated financial sector will begin in April. FCAC Commissioner Lucie Tedesco expressed concern with recent allegations related to the sale of products and services by financial institutions to consumers without properly obtaining their prior express consent, an issue the … Read more
Lucie Tedesco, Commissioner of the Financial Consumer Agency of Canada, announced that 15 leaders representing all sectors were named to the National Steering Committee on Financial Literacy, chaired by Jane Rooney, Canada’s Financial Literacy Leader. The steering committee supports the Financial Literacy Leader in implementing the National Strategy for Financial Literacy—Count Me In, Canada. The full … Read more
Lucie Tedesco, Commissioner of the Financial Consumer Agency of Canada, was appointed Chair of FinCoNet, an international organization of supervisory authorities responsible for financial consumer protection, on November 16, at the organization’s annual general meeting in Jakarta, Indonesia. Tedesco has been at the heart of financial consumer protection throughout some of the most turbulent times in … Read more
The Financial Consumer Agency of Canada will raise awareness about the need for Canadians to get back to money basics during the the sixth annual Financial Literacy Month. Every week in November will be dedicated to a topic that will encourage Canadians to: establish a budget, live within their means, have a savings plan, know their rights … Read more
The Financial Consumer Agency of Canada released “Payday loans: Market trends,” a research report highlighting the need to foster greater consumer awareness of the high costs of payday loans. In early 2016, FCAC conducted a survey of 1,500 payday loan users across Canada. The survey results show that payday loan users are often unaware of … Read more
Canada places third internationally on overall levels of financial literacy, according to the OECD/INFE International Survey of Adult Financial Literacy Competencies, a report released yesterday by the International Network on Financial Education (INFE), which is part of the Organisation for Economic Co-operation and Development (OECD). The report measures and compares the financial knowledge, attitudes and behaviours of adults … Read more
The Commissioner of the Financial Consumer Agency of Canada, Lucie Tedesco, released the Agency’s 2015–2016 Annual Report. It details how the Agency sharpened its supervisory approach, built Canadians’ awareness of their financial rights and responsibilities, deepened its engagement with stakeholders and contributed to policy discussions. The full release is available online. Call 613-941-4168.
The Financial Consumer Agency of Canada reminds Canadians that in case of a Canada Post service disruption, you will not receive your statements for credit cards, loans, mortgages and deposit accounts in the mail. You will also not receive utility bills or other invoices by mail. However, you are still responsible for making your payments … Read more
Financial Literacy Leader Jane Rooney is seeking influential individuals from the public, private and non-profit sectors across Canada to join the National Steering Committee on Financial Literacy. Committee members advise the Leader on financial literacy issues and champion the National Strategy for Financial Literacy—Count Me In, Canada. They commit to take action to strengthen the … Read more
With long-term car loans boosting Canadian household indebtedness, the Financial Consumer Agency of Canada (FCAC) has published new online material to help consumers weigh the pros and cons of various car financing options. FCAC’s “Financing a car” information is based on the research it recently published on long-term car loans. This information helps consumers navigate … Read more
