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By Kathy Majowski and Kavina Nagrani

On January 30, 2019, the CNPEA participated in a Roundtable in Toronto hosted by the FCAC. In response to a commitment by the Government of Canada “to respond to the unique needs of Canada’s aging population’’, the Financial Consumer Agency of Canada will ‘’engage with banks and seniors’ groups to create a voluntary code of conduct (hereinafter referred to as the “Code”)  to guide banks in their delivery of services to Canada’s seniors.” (Fall Economic Statement 2018). We were pleased to be invited to participate in the roundtable discussion and to provide comments/feedback on the draft Code. You can find a summary of our comments below.

Overall, the CNPEA is in support of the initiative of the FCAC to implement the voluntary Code, and are of the view that the Code will be instrumental in helping to mitigate the risks of financial abuse and fraud within the older population of Canadians.