The BC Financial Services Authority (‘BCFSA’) has completed its first full year of operation and reported out. It is time for credit unions to assess how well the new regulatory regime works.
Low wages, predatory lending, and barriers to social mobility trap and disadvantage too many. Employers, governments, credit unions, retailers and others need to step up.
Credit unions have an interest in making sure Canada’s income security programs work.
How do credit unions address their members’ loss of privacy? Huge datasets have been aggregated and turned into proprietary treasures – at Google, Facebook, Amazon, etc.. What is in the member’s best interest?
When managing risk & uncertainty, statistical models are no substitute for cautious, reasoned judgement.
The delivery system for Federal emergency support programs to business excludes most credits unions; Central 1 must step up.
The Covid-19 crisis prompts calls for more debt solutions, but consumers are already over-extended!
Banks, not credit unions, are heavily invested in fossil fuels.
BC gets a new super-regulator. Credit unions must help it be successful.
July’s OSFI discussion paper “Advancing Proportionality” introduces some important ideas which could be used in the regulation of credit unions in this province. Most significantly, the paper proposes four ‘tiers’, or categories, for Canada’s small and medium sized banks. In the paper, the 66 institutions are segmented into four sub-groups; tailoring capital and liquidity requirements […]