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cover voluntaryguideDuring winter 2019, FCAC engaged with seniors’ groups, financial institutions, and experts to identify banking challenges experienced by Canadian seniors. On July 25, 2019, the banking industry adopted a Code of Conduct for the Delivery of Banking Services to Seniors. The Financial Consumer Agency of Canada (FCAC) will monitor banks to ensure they comply with the Code. Should FCAC find that a bank has breached a voluntary code, it will take appropriate action as outlined in its Supervision Framework. (To read the full press release, click here.)

Source: Canadian Bankers' Association

 

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