Skip to main content

Featured

Ottawa’s Global Call for Research Excellence

Industry Minister Mélanie Joly at a press conference in Montreal about a federal push to attract top global researchers in Canada on Dec. 9, 2025. The federal government is stepping up efforts to strengthen Canada’s position as a global leader in innovation by attracting top-tier research talent. Ottawa has announced new initiatives designed to bring world-class scientists, scholars, and innovators to Canadian institutions, with a particular focus on Canadians currently working abroad. The strategy emphasizes creating competitive opportunities in universities and research centers, offering funding packages, and fostering collaborations with international partners. By encouraging Canadian researchers overseas to return home, Ottawa hopes to reverse the “brain drain” and ensure that Canada benefits from their expertise. Officials highlight that this move is not only about filling positions but also about building a vibrant ecosystem of discovery and innovation. The goal is to accelera...
Post a Comment
Read more

article

Labels

Canadian Bank Fees: A Costly Affair

 

In a recent eye-opening report by North Economics, it was revealed that Canadians are paying over $7.7 billion annually in ‘excess’ bank fees. This staggering figure has sparked concern as the federal government is already taking steps to mitigate bank fees.

The Alberta-based consultancy firm’s analysis showed that the fees charged by Canada’s Big Five banks—RBC, TD, BMO, CIBC, and Scotiabank—are significantly higher than those in the U.K. and Australia. The report highlights the disparity in charges for everyday banking services, including monthly account fees, non-sufficient funds, overdrafts, and ATM usage at other banks.

Alain de Bossart, the managing director of North Economics, compared the retail banking profits to deposits ratio of 2022 between Canadian and British banks. The findings suggest that the Big Five banks in Canada had an ‘excess’ income of $7.73 billion, which translates to roughly $250 per Canadian.

The Canadian Bankers Association responded by emphasizing the value and accessibility provided by the competitive banking system in Canada. They also mentioned that a significant percentage of Canadians do not pay any account fees.

This report has intensified the dialogue on bank fees in Canada, with many calling for a more consumer-friendly approach that aligns with global standards.

Labels:

Comments

Post a Comment