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On June 30, 2017, the Office of the Superintendent of Financial Institutions issued an advisory, stating that it planned to enforce the Bank Act's prohibitions on using the word or verbiage "bank" in connection to any financial service that is not a bank. The terms were required to be removed from websites by the end of 2017, from print ...
Canadian Tire Bank (CTB), a Schedule 1 (domestic, deposit-taking) bank under the Bank Act, was founded in 2003 and took over financial services that had been provided by CTFS. [3] In addition to MasterCard credit card services, Canadian Tire Bank also launched high interest savings accounts, tax-free savings accounts, and GIC products.
Under Section 25, these notes (known as legal tender) could be converted to gold at the head office in Ottawa, in the form of bars containing approximately four hundred ounces of gold. [7] The bank continues in the current Act to be the sole institution to issue notes. The bank must provide an adequate supply as required for circulation in ...
The bank regulator is the Office of the Superintendent of Financial Institutions (best known as OSFI), [21] whose authority stems from the Bank Act. [20] The financial groups are also governed by regulatory bodies (bank regulators, securities regulators, insurance regulators, etc.) in each country in which they operate.
the Insurance Companies Act [4] the Trust and Loan Companies Act [5] the Cooperative Credit Associations Act [6] the Green Shield Canada Act; the Payment Card Networks Act [2] the Financial Consumer Agency of Canada Act. [1] In cases of contravention or non-compliance with legislation, FCAC notifies the federally regulated financial entity of a ...
Canadian Tire Bank (CTB) is the company's retail deposit-taking and credit card issuing arm. They are held indirectly under the Canadian Tire Services, Limited, holding company, Canadian Tire Bank (CTB), a bank under Canada's Bank Act since 2003. Before 2003, all financing occurred under the Canadian Tire Financial Services.
Unemployment and Farm Relief Act, 1931; Bank of Canada Act, 1934; Public Works Construction Act, 1934; Succession to the Throne Act, 1937; National Housing Act, 1938; National Resources Mobilization Act, 1940; Family Allowance Act, 1945; Canadian Citizenship Act, 1946; Canadian Overseas Telecommunication Corporation Act, 1948
The Bank of Canada is the sole issuing authority of Canadian banknotes, [7] [8] provides banking services and money management for the government, and loans money to Canadian financial institutions. [ 9 ] [ 10 ] The contract to produce the banknotes has been held by the Canadian Bank Note Company since 1935.