The Financial Consumer Agency of Canada (FCAC) is an independent body working to protect and inform consumers of financial products and services.
We were established in 2001 by the federal government to strengthen oversight of consumer issues and expand consumer education in the financial sector. In July 2010, FCAC was also tasked with the oversight of payment card network operators and their commercial practices.
In March 2013, FCAC’s mandate expanded again. On April 10, 2014, the Government of Canada appointed the first Financial Literacy Leader within FCAC to extend collaboration with stakeholders and coordinate activities that contribute to strengthening Canadians’ financial literacy.
What we do
As a federal regulatory agency, FCAC is responsible for:
- ensuring that the market conduct of federally regulated financial entities complies with federal legislation and regulations
- promoting the adoption of policies and procedures designed to implement legislation, regulation, voluntary codes of conduct and public commitments by federally regulated financial entities
- monitoring federally regulated financial entities’ compliance with voluntary codes of conduct and their own public commitments
- informing consumers about their rights and responsibilities when dealing with financial entities and about the obligations of payment card network operators to consumers and merchants
- providing timely and objective information and tools to help consumers understand, and shop for, a variety of financial products and services
- monitoring and evaluating trends and emerging issues that may have an impact on consumers of financial products and services.
For more information about FCAC, please see: