EN
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 SeniorsPDF opens in new window.
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 SecurityPDF opens in new window.
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 AccountsPDF opens in new window.
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 ServicesPDF opens in new window.
A commitment governing the responsibilities of CBA member banks when modifying or replacing existing products.
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 ServicesExternal site opens in new window
Industry and consumer practices and responsibilities related to debit cards.
Minimum standards that apply to bank representatives who promote authorized insurance products in Canada.
A commitment governing openness, accountability, the credit process and complaint handling.
A guide to protecting clients in online transactions.
Guidelines for Transfers of Registered PlansPDF opens in new window.
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 AccountsExternal site opens in new window
A commitment to offer a standard low-cost no-cost account to clients.
Interac Zero Liability PolicyExternal site opens in new window
A commitment to protect consumers against fraudulent transactions.
Visa Zero Liability PolicyExternal site opens in new window
The elimination of client liability for certain fraudulent Visa transactions.
Visa E-PromiseExternal site opens in new window
Protection for VISA cardholders who shop online, by mail or by phone.
MasterCard Zero LiabilityExternal site opens in new window
The elimination of client liability for certain fraudulent MasterCard transactions.
Online PaymentsPDF opens in new window.
Consumer and industry responsibilities related to the use of online payments systems in Canada.
Plain Language Mortgage DocumentsPDF opens in new window.
A Canadian Banking Association (CBA) commitment to improve readability of residential mortgage documents.
Code of Conduct for the Credit and Debit Card Industry in CanadaExternal site opens in new window
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 prohibited conductPDF opens in new window.
In accordance with the law, the following is a document explaining exactly what constitutes prohibited conduct 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.
The undersigned financial institution hereby undertakes and agrees that, while the above noted Regulations remain in force, and while it offers principal protected notes as defined in the Regulations for sale by electronic means and/or by telephone:
- it will give to investors who purchase a principal protected note by electronic means or by telephone, the opportunity to cancel the purchase within two days after the later of
- the day on which the agreement to purchase the principal protected note is entered into, and
- the day on which the disclosure required by section 3 of the Regulations is provided to the investor;
- investors who purchase over the telephone or by electronic means will be deemed to have been provided the written disclosure required by section 3 of the Regulations:
- on the day recorded as the time of sending by the server or other electronic transmission system, if provided by electronic means;
- on the day recorded as the time of sending by a fax machine, if provided by fax;
- five business days after the postmark date, if provided by mail; and
- when it is received, in any other case;
- upon cancellation of the purchase of a principal protected note pursuant to this undertaking, it will refund the principal amount, if any, deposited with it to purchase the principal protected note and any fees relating to the purchase that have been paid by the investor; and
- it will publish its obligations pursuant to this undertaking on its internet website.
Dated as of July 1, 2008
Related Links
Public Accountability Statement