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Canada Credit Unions

Bennett Jones LLP

COVID-19 Tax Updates from the Alberta Government and the CRA

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Since March 18, 2020, the following updates have been released by the Government of Alberta and the Canada Revenue Agency (CRA) regarding their respective economic relief plans to help mitigate the effects of the COVID-19...more

Blake, Cassels & Graydon LLP

What the Dissolution of Parliament Means for Financial Institutions Legislation in Canada

On September 11, 2019, Governor General of Canada Julie Payette dissolved Parliament and called a federal general election to be held on October 21, 2019. As a result of the dissolution of Parliament, the following bills died...more

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OSFI Advisory of Interest to Federal Credit Unions—Incident Reporting

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The Office of the Superintendent of Financial Institutions (OSFI) Canada has published an Advisory of application to all federally regulated financial institutions (FRFI) setting out the expectations of the regulator with...more

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OSFI Suspends Compliance Expectations Against Use Of "Bank Words" by Credit Unions, and Solicits Consultation

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Provincially-regulated credit unions that use “bank words” to describe products or services (such as “online banking”) will be relieved to hear that the Office of the Superintendent of Financial Institutions (OSFI) has...more

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If You're Not a Bank, Stop Using "Bank Words" to Describe Your Business, Says Canada's Banking Regulator

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Companies that provide financial services in Canada, including fintech companies and credit unions, should be aware of a provision in the federal Bank Act that restricts their ability to use words such as "bank", "banker" or...more

Blake, Cassels & Graydon LLP

Ontario Minister of Finance Accepts Recommendations to Amend Credit Union Legislation

Ontario’s Minister of Finance recently announced that the Ontario government will accept the 15 recommendations set out in a legislative review report (Report) to amend Ontario’s credit union legislation, The Credit Unions...more

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