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Credit Unions OSFI

Bennett Jones LLP

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

Bennett Jones LLP

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

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