Watch out if you use the word ‘bank’. On June 30th the Office of the Superintendent of Financial Institutions (“OSFI”) issued an advisory that re-asserted that the use of the words bank, banker, and banking are restricted under The Bank Act. OSFI expressed displeasure at the expanded use of the words by non-banks and they […]
Consolidation and cartel building is the long term strategy of the Big Banks and it seems to go on without much alarm. This is partly because of their patience and partly because other players are distracted by other things; technology, risk management, new capital rules, new liquidity monitoring tools, mortgage insurance changes, etc.. But these […]