Bank Accountability Campaign

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Bank Accountability Campaign

Advocating for stronger, more effectively enforced accountability measures for Canada's big banks and other financial institutions

Action Alert

Democracy Watch has produced the following documents in its Bank Accountability Campaign
(in reverse chronological order)

Please also view the Canadian Community Reinvestment Coalition (CCRC) website. The CCRC was organized and is coordinated by Democracy Watch and its partner organization, the Democracy Education Network. The CCRC was launched in December 1996, and since then Democracy Watch has done almost all of its bank accountability work in conjunction with the CCRC.

WEBSITE ARTICLE: Governments must require banks they do business with to serve everyone fairly and well (NOW Magazine, May 27, 2010)
WEBSITE ARTICLE: Federal Task Force on Financial Literacy must recommend creation of financial industry citzen watchdog group, and bank regulation, to be effective (Toronto Star, December 24, 2009)
WEBSITE ARTICLE: Democracy Watch and the CCRC call for an audit of excessive bank profits (CBC.ca, December 9, 2009)
NEWS RELEASE: Big Banks Profit From Subsidies and Government Inaction on Gouging and Financial Consumer Empowerment -- Comprehensive Audits, and New Financial Consumer Watchdog Groups Needed For Effective Bank and Financial Services Industry Accountability (CCRC News Release, December 8, 2009) -- To hear related radio interview, click here (NOTE: The piece starts starts at the 5:25 min. mark of the show, and ends at the 16:45 min. mark of the show)
NEWS RELEASE: Federal Conservatives' Proposed White-Collar Crime Measures Too Little, Too Late to Protect Investors and Consumers -- U.S. Experience Shows Two New Citizen Watchdog Groups Needed For Effective Corporate Accountability (October 21, 2009)
OP-ED: It's our money, and so we should have a say in how banks and other financial institutions use our money (Straight.com, October 15, 2009)
WEBSITE ARTICLE: Federal government must set up financial consumer watchdog group to give consumers a place to call for financial advice and help (Canada.com (and 8 CanWest News Service newspapers, all publishing CanWest News article), June 23, 2009)
TESTIMONY: Duff Conacher on the need for an independent audit of bank profits and other key bank accountability measures before the Joint House of Commons Finance/Industry committees (June 2, 2009)
WEBSITE ARTICLE: Conservatives' Proposed Credit Card Regulations Too Little, Too Late to Protect Finance Consumers From Being Gouged (VUE Weekly (Edmonton, Alberta weekly newspaper), May 28, 2009)
WEBSITE ARTICLE: Federal Conservatives' proposed credit card regulations too little, too late to protect financial consumers from gouging (National Post (Jonathan Chevreau's column), May 22, 2009)
WEBSITE ARTICLE: Federal Conservatives' proposed credit card regulations too little, too late to protect financial consumers from gouging (CBC.ca, May 22, 2009)
NEWS RELEASE: Conservatives' Proposed Credit Card Regulations Too Little, Too Late to Protect Finance Consumers From Being Gouged -- Comprehensive Audits, and New Financial Consumer Watchdog Groups, Needed For Effective Bank and Financial Services Industry Accountability (CCRC News Release, May 22, 2009)
WEBSITE ARTICLE: Question remains whether federal Conservatives will take action to protect Canadians from credit-card gouging by the big banks and other companies (Toronto Star, May 16, 2009)
WEBSITE ARTICLE: Coalition calls for government audit of banks credit card and overall lending practices (Canada.com, National Post and 2 other CanWest News Service newspapers, April 1-2, 2009) -- To see related article published on Canada.com and 12 other CanWest News Service newspapers across Canada, click here (April 2-3, 2009)
TESTIMONY: Duff Conacher on the need for an independent audit of bank profits and other key bank accountability measures before the Standing Senate Committee on Banking, Trade and Commerce (April 2, 2009)
RADIO INTERVIEW: Interview on CBC Radio's "As It Happens" show (March 30, 2009) with Democracy Watch Coordinator and Canadian Community Reinvestment Coalition (CCRC) Chairperson Duff Conacher re: NEWS RELEASE: Coalition Calls on Federal Government to Get Tough on Unfair Bank Gouging and Cutting of Lending and Services -- Comprehensive Audits, and New Financial Consumer Watchdog Groups, Needed For Effective Bank and Financial Services Industry Accountability (March 4, 2009)
NEWS RELEASE: Coalition Calls on Federal Government to Get Tough on Unfair Bank Gouging and Cutting of Lending and Services -- Comprehensive Audits, and New Financial Consumer Watchdog Groups, Needed For Effective Bank and Financial Services Industry Accountability (CCRC News Release, March 4, 2009)
NEWS RELEASE: Federal Conservatives Continue Negligence of Federal Governments Over Past 20 Years By Giving Financial Institutions Billions But Doing Nothing to Stop Their Unfair Gouging and Cutting of Loans and Services -- Comprehensive Audits, and New Financial Consumer Watchdog Groups Needed For Effective Bank and Financial Services Industry Accountability (CCRC News Release, January 30, 2009)
WEBSITE ARTICLE: Canada's big banks lobbying against possible audits to determine extent credit card customers are gouged (Canada.com and National Post, January 26, 2009)
TV FEATURE: Federal government has been negligent in not regulating credit card promotions and interest rates by banks and other companies (CBC TV's The National, January 7, 2009)
WEBSITE ARTICLE: Federal Conservative Finance Minister Jim Flaherty must require banks to disclose loan applications, approvals and rejections to have effective bank accountability (CBC.ca and 28 other media outlets across Canada (all publishing Canadian Press wire article), January 5, 2009) -- To see CanWest News Service article on same subject published in the National Post and two other newspapers, click here
NEWS RELEASE: Scrooge Banks Will Gouge Canadians and Cut Services to Recover Their $16 Billion in Losses and Writedowns Unless Federal Government Finally Audits Charges, Interest Rates, Lending Records and Competition Levels -- New Financial Consumer Watchdog Groups Needed to Watch Banks and Investment Industry (December 16, 2008 - NOTE: Link will take you to the website of the Canadian Community Reinvestment Coalition (CCRC) which Democracy Watch coordinates))
LETTER-TO-THE-EDITOR: Federal Conservatives and Liberals do nothing to prevent gouging of Canadians by big businesses over past 20 years (July 11, 2008)
WEBSITE ARTICLE: If Conservative Federal Finance Minister Jim Flaherty Doesn’t Act Now, Big Banks Will Recoup Their $2 Billion in Losses By Increasing Gouging, Cutting Loans to Creditworthy Businesses, and Continuing Excessively Risky Investing (London Free Press and 5 other Sunmedia newspapers across Canada publishing Linda Leatherdale's "Money" column about the Canadian Community Reinvestment Coalition (CCRC -- a coalition coordinated by Democracy Watch) December 6, 2007 news release -- To see the column, click here)
NEWS RELEASE: Democracy Watch Proud To Have Played Small Part in Charter of Rights History -- Canada Also Needs A Charter of Government and Corporate Accountability and Democracy (April 16, 2007)
WEBSITE ARTICLE: Banks likely gouging customers with many excessive charges -- will federal Finance Minister Jim Flaherty just talk the same old talk or will he do something to end the gouging? (Toronto Sun, January 28, 2007) - To see more details, click here to view the Canadian Community Reinvestment Coalition's (CCRC) news release (NOTE: The CCRC is coordinated by Democracy Watch)
WEBSITE INTERVIEW: Federal Finance Minister Jim Flaherty must require banks to prove, through an independent audit, that all service charges are fair (CBC TV's The National", January 25, 2007 -- To see the interview with Duff Conacher, click on the link to the video on the right-hand side of the webpage this link takes you to)
NEWS RELEASE: Federal Conservatives Fail in Bill C-37 To Require Banks To Prove Their Record $19 Billion Profits Are Based on Fair Prices and Service, and Responsible Lending and Investing, and Also Fail to Ensure Bank Mergers and Takeovers Are in the Public Interest (December 14, 2006 -- NOTE: link goes to webpage of the Canadian Community Reinvestment Coalition (CCRC), the bank accountability coalition coordinated by Democracy Watch)
WEBSITE ARTICLE: Bank mergers in Canada will create mega-banks that provide worse service, reduce choices for borrowers, and are less efficient (CBC.ca website, December 11, 2006)
REPORT CARD: Federal NDP Has Best Corporate Responsibility Platform, Greens and Bloc Not Too Far Behind, Conservative and Liberal Grades Much Worse -- Many Key Gaps in All Parties' Platforms . . . (January 19, 2006)
OPINION PIECE: Better Banks Needed, Not Bigger Banks (Ottawa Citizen (September 16, 2005), Halifax Chronicle-Herald (September 18, 2005), Montreal Gazette (September 19, 2005))
OP-ED: Liberals Inaction on Three Key Issues Reveals Their Lack of Concern About Government Accountability and Corporate Responsibility (Hill Times, August 15, 2005)
OP-ED: Many Changes Needed Before Canada Will be a Democracy (Hill Times (January 10, 2005) and Toronto Star (December 29, 2004))
RADIO INTERVIEW: Duff Conacher on CBC Radio's "The Current" re: need for effective corporate regulation and creation of citizen watchdog groups in Canada (December 21, 2004 - To listen to the interview, scroll down page this link takes you to and click on "Part 3" link (you will need Real Audio software to listen to the piece) the piece starts 9 minutes 24 seconds into Part 3 of the show and runs almost to the end of the show)
RADIO PIECE: Duff Conacher on CBC Radio's "The House" Calling for More Comprehensive, Effective Regulation of Investment Industry (December 11 , 2004 -- To listen to the piece, click on the "Dec. 11" link under the heading "2004" on the page this link takes you to (you will need Real Audio software to listen to the piece) the piece starts 27 minutes 37 seconds into the show, and ends 36 minutes 22 seconds into the show)
NEWS RELEASE: Coalition Calls on Ontario Government to Help Establish Broad-Based Investor Rights Group (August 19, 2004)
NEWS RELEASE: Federal Parties Promises Not Enough to Ensure Honest, Accountable Federal Government and Responsible Corporations, Report Card on Platforms Reveals (June 25, 2004)
NEWS RELEASE: Democracy Watch Calls for Investigation into Bank Merger Meeting Between Finance Department and Morgan Stanley Canada (December 5, 2000)
NEWS RELEASE: Record Bank Donations Coincide with 1997 Bank Act Review (July 6, 1998)
NEWS RELEASE: Democracy Watch criticizes lack of Access for Consumer Groups and Minister Responsible for Bank Act Changes (February 17, 1997)
NEWS RELEASE: Democracy Watch calls on Industry Committee to Question Credit Card Profit Margin (February 11, 1997)
REPORT: On the Up and Up: Brief to the House of Commons Standing Committee on Industry on Credit Card Interest Rates (February 1997)
MEDIA RELEASE: Democracy Watch calls on Government to Enact Bank Accountability Measures (December 5, 1996)
MEDIA RELEASE: Democracy Watch calls on Government to Enact Bank Accountability Measures (September 26, 1996)
REPORT: Brief to the Finance Committee: on the Department of Finance's Policy Paper "1997 Review of Financial Institutions Legislation: Proposals for Changes" (September 1996)
OP-ED: Banks need to be more accountable (January 1996)
OP-ED: Ottawa should make banks reveal more (September 1995)
OP-ED: Make the Banks and Insurers Tell Us More (August 1994)
REPORT: A Capital Idea: The Case for Reinvestment Requirements Accountability Mechanisms for Financial Institutions in Canada (April 1994)

Page last updated May 27, 2010

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