Financial Consumer Agency of Canada - Agence de la consommation en matière financière du Canada

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Top Line

 For Consumers

 Consumers Protection: Know Your Rights


Know Your Rights Voluntary Codes of Conduct FCAC Role and Mandate

  



You have rights as a user of financial products and services. Many financial laws and regulations exist to protect and strengthen the position of consumers. New regulations are also being developed to improve consumer protection. These are called "consumer provisions" (see below).

Use this chart to review the federal consumer provisions that protect your rights, or use the drop-down menu above to go directly to a specific provision. The consumer provisions apply to the financial institutions we supervise. (More about who we regulate...)

Consumer provisions
related to:
Overview
Information that financial institutions must give you
If you're getting a loan, opening an account or purchasing certain products, you are entitled to receive information to help with your decision. More…
Opening a bank account
(retail only)
Planning to open a bank account? If so, know your rights. Identification will be required, but you don't need a minimum deposit or proof of employment. More…
Cashing federal government cheques
Do you receive federal government cheques? Banks are obligated to cash them free of charge if you meet certain conditions. More…
Branch closures
When closing a retail branch, a financial institution must provide customers with sufficient notice. More…
Complaint procedures
Financial institutions must have clear complaint procedures and belong to an external dispute resolution scheme. More…
Loans and credit or charge cards
Borrowing money? You are entitled to know what the costs are and what your prepayment rights are. More…
Coercive tied selling
(forced purchases)
It is illegal for a bank to coerce you into purchasing a product or service as a condition for obtaining another product or service from the same institution. More…
Public Accountability Statements
Do you know what your financial institution contributes to community development? Large institutions must make this information public. More…
Have a question or complaint?
Call 1-866-461-3222 or Contact us. If you believe that a financial institution has breached a consumer law, click here for information on making a complaint.
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FCAC/ACFC Toll-free 1.866.461.FCAC (3222) Protecting Consumers / Informing Canadians
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Last Modified: 2005-03-29
Important Notices