Financial Consumer Agency of Canada
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Financial Consumer Agency of Canada

www.fcac-acfc.gc.ca

 

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Laws, Regulations and Other Obligations

Federally regulated financial entities are subject to various obligations under specific acts, regulations, codes of conduct and public commitments. Under our mandate, FCAC oversees a number of these.

Acts

FCAC is responsible for administering sections of the Bank Act, Insurance Companies Act, Trust and Loan Companies Act, Co-operative Credit Association Act, Green Shield Canada Act and the Payment Card Network Act. You will find in this section a list of federal Acts relating to our mandate.

Regulations

FCAC administers federal acts setting out legislative requirements that federally regulated financial entities must comply with. That legislation includes the general requirements set out in statutes such as the Bank Act, Insurance Companies Act, Trust and Loan Companies Act, Co-operative Credit Association Act, Green Shield Canada Act and the the Payment Card Network Act, and the more detailed requirements made under associated regulations such as Cost of Borrowing or Disclosure of Charges.

Voluntary Codes of Conduct

FCAC monitors federally regulated financial entities’ compliance with certain codes of conduct that are designed to protect the interests of consumers. FCAC reports to Parliament annually on federally regulated financial entities’ compliance with these codes of conduct, and on the types and volume of complaints received.

Public Commitments

FCAC monitors federally regulated financial entities’ compliance with certain public commitments that are designed to protect the consumers’ interests. FCAC reports to Parliament annually on of financial institutions’ compliance with these public commitments, and on the types and volume of complaints received.

 

View Obligations by Type of Institutions

You may also search the acts, regulations and other obligation by federally regulated financial entities by choosing one of the following:


Footnote 1 Section 2 of the Bank Act states that a "federal credit union" means a bank that, within the meaning of section 12.1, is organized and carries on business on a cooperative basis.

Footnote 2 Retail associations as defined in the Cooperative Credit Associations Act.

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Date Modified:
2013-01-28