Tuesday, May 29, 2018

TOO MANY SECRETS ABOUT INVESTIGATING BANKS

   A number of Canada's big banks are under investigation for possible violations of the consumer rules that govern financial institutions, top officials from Canada's financial consumer watchdog told members of Parliament Monday.
   However, officials from the Financial Consumer Agency of Canada (FCAC) were tight-lipped, refusing to say which banks are being investigated or exactly which rules they are alleged to have broken.
   In many cases, the results of investigations will remain a secret. Officials say the results of some investigations may become public and be published on the agency's website. However, the agency has no plans to let complainants know if their complaints weren't investigated, or if they were investigated and weren't found to be grounded.

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