The Swedish suicide continues
Sacrificing humanity

The banks are not your friends

Canada's financial consumer watchdog says there are "insufficient" controls in place at the country's biggest banks to prevent sales of financial products that are misrepresented or unsuitable for consumers, and the banks' sales-focused culture elevates the risk that employees may flout consumer protection rules.

Banksters have to earn a living.

TD Bank, the focus of the initial CBC, has conducted its own internal review and concluded it did not have a widespread problem with aggressive sales tactics.

(Laughs.) Of course, it didn't.

Anecdote: I know a girl who went to TD to get a credit card few years ago. There was just one problem. The income requirement for it was $60,000. She worked minimum wage. Her income was barely close to $20,000 a year. That didn't stop the TD rep from filling out the application and, surprise!, she got a new credit card.

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)