FCAC Spotlight on Consumer Protection

Key Enhancements to the Financial Consumer Protection Framework

November 16, 2022 11:45am

Philippe Pellerin
Manager, Supervision
Financial Consumer Agency of Canada (FCAC)

Effective June 30, 2022, the Government of Canada introduced a new Financial Consumer Protection Framework under the Bank Act to expand measures in which “banks are held to a higher standard in their sales practices, complaint-handling procedures, and provision of information so customers can make informed decisions.”

The Framework includes more than 60 new or enhanced protections aimed at strengthening the financial health of Canadian consumers. Join this presentation to hear about FCAC’s early observations in the implementation of the framework.