The federal government is moving to streamline the process under which Canadians can file formal complaints about their banks, and setting up a new system of oversight for the industry.
In a series of proposed rules unveiled Friday, Finance Minister Jim Flaherty said the government is moving to help consumers resolve disputes in a more timely, impartial and transparent manner.
“Today’s sweeping new rules will give more power to consumers looking to resolve a dispute with their bank by creating a stronger, more independent consumer complaint system," Flaherty said.
Read more: Ottawa alters rules for consumer complaints about banks
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