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Voluntary Codes and Public Commitments


The Canadian banking industry has developed several voluntary commitments and codes designed to protect consumers and serve them better. These include:

Code of Conduct for the Delivery of Banking Services to Seniors
  This voluntary code of conduct sets out principles that apply to banks to guide them when they deliver banking products and services to Canada’s seniors.
Commitment to Provide Information on Mortgage Security
  A commitment to provide consumers information about mortgage security in order for consumers to make an informed decision about the choice of the product.
Commitment on Powers of Attorney (POA) and Joint Deposit Accounts
  A commitment to provide consumers more general information about powers of attorney to clients in the branches and on the websites.
Commitment on Modification or Replacement of Existing Products or Services
  A commitment governing the responsibilities of CBA member banks when modifying or replacing existing products.
Code of Conduct for Federally Regulated Financial Institutions - Mortgage Prepayment Information
  The Code of Conduct is designed to ensure that enhanced information is available to assist borrowers in making decisions about mortgage prepayment
Canadian Code of Practice for Consumer Debit Card Services
  Industry and consumer practices and responsibilities related to debit cards.
Canadian Banking Association CBA Code of Conduct for Authorized Insurance Activities
  Minimum standards that apply to bank representatives who promote authorized insurance products in Canada.
Pledge to Small Business
  A commitment governing openness, accountability, the credit process and complaint handling;
Principles of Consumer Protection for Electronic Commerce:
A Canadian Framework
  A guide to protecting clients in online transactions.
Guidelines for Transfers of Registered Plans
  A guide on what to expect and where to get help when transferring a registered savings plan (RSP) between financial institutions.
The Memorandum of Understanding – No Cost Low Cost Bank Accounts
  A commitment to offer a standard low-cost no-cost account to clients
Visa Zero Liability Policy
  The elimination of client liability for certain fraudulent Visa transactions.
Visa E-Promise
  Protection for VISA cardholders who shop online, by mail or by phone.
MasterCard Zero Liability
  The elimination of client liability for certain fraudulent MasterCard transactions.
Online Payments
  Consumer and industry responsibilities related to the use of online payments systems in Canada.
Plain Language Mortgage Documents
  A CBA commitment to improve readability of residential mortgage documents.
Code of Conduct for the Credit and Debit Card Industry in Canada:
  Code of conduct that sets principles for business practices related to the issuance and acceptance of payment cards and operation of payment card networks.
What you need to know about coercive tied selling
  In accordance with the law, the following is a document explaining exactly what constitutes coercive tied selling and how to contact us if you have any questions, complaints or concerns.
Undertaking-Principal Protected Notes Regulations
  This commitment applies to an agreement to issue a principal protected note that is entered into by electronic means or by telephone means and describes the timing of written disclosures and cancellation rights available to clients.


Related Links
  Public Accountability Statement
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