|
| Branch
closures |
Requirement
to provide a minimum notice period before closing a retail
branch |
Cashing
federal
government cheques |
Prohibition
on charging for cashing federal government cheques |
Committee
of the Board
of Directors |
Requirement
to designate a committee of the Board of Directors to monitor
procedures regarding disclosure of information to customers
and to deal with complaints, as required under the Act |
| Complaint
procedures |
Requirement
to put in place a procedure for handling complaints and to
file a copy of the procedure with the FCAC
Requirement to join a complaints resolution organization
Requirement to provide information to customers on contacting
the FCAC |
| Disclosure
requirements |
Requirement
to disclose information to consumers with respect to:
- interest and charges applicable to deposit accounts
- cost of borrowing
- terms and conditions of loan prepayments
- a customer's rights and obligations when being issued
a credit, charge or payment card, and any associated costs
- insurability of deposits by CDIC
- index-linked
deposits, and how interest on these deposits is calculated
- any other products and services, policies, procedures
or practices, as specified by regulation requirement to
provide information to customers on contacting the FCAC
|
| Loans and credit/charge cards |
Consumer right to prepayment of certain types of loans
Prohibition on loans that require minimum credit balances to be maintained by borrower, unless expressly agreed to |
| Public Accountability Statements |
Requirement for large institutions to file Public Accountability Statements |
]
