Category Archives: Banks
CIBC hires former Liberal innovation minister Navdeep Bains
TORONTO — CIBC has hired former Liberal cabinet minister Navdeep Bains as vice-chair, global investment banking. Bains stepped down as innovation minister in January and did not run in the recent federal election. He officially joins the bank Oct. 4. C...
Meng loses publication ban request on HSBC materials obtained via Hong Kong court
VANCOUVER — The Supreme Court of British Columbia has dismissed an application for a publication ban from Huawei chief financial officer Meng Wanzhou on new evidence that her legal team wants to introduce in her fight against extradition to the
Violent extremists driven by ideology turning to virtual currencies: federal centre
OTTAWA — The federal financial intelligence centre warns that violent extremists driven by causes including racial hatred are increasingly turning to virtual currencies for fundraising. In a newly published special bulletin, the Financial Transactions ...
Meng applies for publication ban on HSBC materials obtained via Hong Kong court
VANCOUVER — Huawei's chief financial officer is seeking a publication ban on new evidence that her legal team wants to introduce in her fight against extradition to the United States. Meng Wanzhou's lawyers obtained the new material from HSBC through ...
Feds should be ‘cautious,’ avoid overstimulation with upcoming budget, RBC CEO says
TORONTO — The head of the Royal Bank of Canada says the federal government should be cautious about overspending in its forthcoming budget. "We don't want to overdo this and some of the numbers that I'm hearing could lead to overstimulation,"
Federal bank regulator proposes tightening test for uninsured mortgages
OTTAWA — The federal banking regulator is proposing increased requirements to the stress test facing homebuyers with uninsured mortgages as it looks ahead to a return to pre-pandemic financial conditions with higher interest rates. The proposal from th...
Conservatives call on Liberals to stop payments to Chinese infrastructure bank
OTTAWA — The Conservatives are calling on the Liberal government to stop funding the Asian Infrastructure Investment Bank given the ongoing detention and secret trials of two Canadians in China. In a letter Tuesday to Justin Trudeau, Conservative Lead...
NatWest unit faces criminal charge in money laundering case
LONDON — National Westminster Bank has been charged with violating money laundering laws in relation to 365 million pounds ($505 million) deposited into a single customer’s accounts over a period of five years, Britain’s financial regulator said Tuesda...
Sending bank customer info to U.S. avoided potentially ‘catastrophic effects’: Canada
OTTAWA — The federal government is telling an appeal court it had to provide U.S. authorities with customer information from Canadian banks to avoid possibly "catastrophic effects" on Canada's economy. The U.S. Foreign Account Tax Compliance Act, known...
Sending bank customer info to U.S. avoided potentially ‘catastrophic effects’: Canada
OTTAWA — The federal government is telling an appeal court it had to provide U.S. authorities with customer information from Canadian banks to avoid possibly "catastrophic effects" on Canada's economy. The U.S. Foreign Account Tax Compliance Act, known...