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Stop Banks From Choosing Their Own Referee!

Stop Banks From Choosing Their Own Referee!

When people have a disagreement with their bank, they can find themselves in the unfair position of having this disagreement resolved by decision makers hand picked by their bank. This is the situation that Canadian bank customers are in today.  The Canadian government’s policy allows banks to choose their own dispute resolution service. By giving banks this choice, dispute resolution services are forced to compete to attract the banks’ business. The result is a race to the bottom for consumer protection. And not surprisingly the big banks are choosing the organization that settles issues more often in their favour ...

When people have a disagreement with their bank, they can find themselves in the unfair position of having this disagreement resolved by decision makers hand picked by their bank. This is the situation that Canadian bank customers are in today.  The Canadian government’s policy allows banks to choose their own dispute resolution service. By giving banks this choice, dispute resolution services are forced to compete to attract the banks’ business. The result is a race to the bottom for consumer protection. And not surprisingly the big banks are choosing the organization that settles issues more often in their favour.

 

Bank customers deserve and require access to an unbiased resolution process when they have a dispute with their bank. The federal government needs to do a better job protecting bank customers by mandating a single impartial, non-profit external complaints body – one that is not motivated to favour the banks.

 

It’s time for the federal government to protect consumers and stop banks from choosing their own referee.

 

Email your decision-makers in the federal government today!

 

 

This campaign has been approved by:

FAIR (Canadian Foundation for Advancement of Investor Rights)

CCC (Consumers Council of Canada)

CARP (Canadian Association of Retired Persons)

 

 

 

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Email your local MP

INSTRUCTIONS:  To determine who your local MP is, please enter your complete address in the field below entitled Find your local rep.

The system will automatically attach the correct MP to your email.   You do not need to confirm this selection.  You will see that your email is also addressed to your local MP.

You can adjust your email if you choose.  Please note, in addition to your local MP ...

INSTRUCTIONS:  To determine who your local MP is, please enter your complete address in the field below entitled Find your local rep.

The system will automatically attach the correct MP to your email.   You do not need to confirm this selection.  You will see that your email is also addressed to your local MP.

You can adjust your email if you choose.  Please note, in addition to your local MP, this email will also be sent to:

  • Hon. Bill Morneau, Minister of Finance
  • The Financial Consumer Agency of Canada
  • Pierre Poilievre, Vice Chair, Standing Committee on Finance
  • Sen. Howard Wetston

You will receive a copy of this email for your records.

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Compose your email

Email Tips +

Care to change the email?  Here's some tips.

  • An original letter can be more effective than a form letter, so feel free to personalize your letter and include your own relevant experiences.
  • State purpose/objective at the beginning and briefly introduce concerns.
  • Try to use 2-3 specific points about your issue to explain your position.
  • Describe your interest in the issue and any relevant credentials.
  • Include questions that provoke response.
  • Ask for more information or clarification on your MP’s position.
  • Request a commitment to a specific action, and give a rationale for your request.
  • Thank the MP for any positive action they have taken in the past on this issue.
  • Request that the MP respond to your letter.

Remember:

  • A well-written letter is more credible and will get more attention.
  • Proofread your letter to get rid of any typos.
  • Keep your letter as short and concise as possible, while making sure to include all the pertinent details.
  • Personalize your letter where possible. MPs take much more note when you relate an issue to how it affects their own constituency.
  • Concise is most effective.  If you have more information, you may wish to write a letter to your MP.  Remember, it's free to do so!