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Ottawa Wants to Raise Your Deposit Insurance to $250,000: What Changes (and What Doesn’t)

  For more than 20 years, the federal guarantee on your savings has been stuck at $100,000. In Thursday's budget, Ottawa proposed to raise it to $250,000. Here is what would change, what wouldn't, and why you shouldn't move a dollar yet. Today (unchanged since 2005) $100,000 per deposit category Proposed in Budget 2026 $250,000 per deposit category What Budget 2026 actually proposes The Canada Deposit Insurance Corporation (CDIC) protects your deposits if a member bank fails. The budget proposes amendments to the CDIC Act that would do four things: Raise the limit from $100,000 to $250,000 per deposit category, the first increase in more than two decades. Remove the limit entirely for eligible deposits held in registered and tax-free accounts. Today, the limit is $100,000 per account type at each institution. Add temporary high-balance coverage for life events such as selling a home. Require a review of the deposit insurance framework every 10 years. It isn't law yet. ...
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From Montreal to Washington: Kamala Harris’s Canadian Roots

 

Kamala Harris, the first female Vice President of the United States, has a unique and diverse background that includes a significant chapter in Canada. Born in Oakland, California, Harris moved to Montreal, Quebec, at the age of 12 after her parents divorced. Her mother, Shyamala Gopalan Harris, a renowned breast cancer researcher, accepted a position at McGill University and the Jewish General Hospital, prompting the family’s relocation.

In Montreal, Harris attended Westmount High School, where she graduated in 1981. This period in Canada was formative for Harris, exposing her to a different culture and educational system. Despite the challenges of adapting to a new environment, she thrived academically and socially. Harris has often reflected on her time in Montreal, recalling how it shaped her perspective and resilience.

After high school, Harris returned to the United States to attend Howard University in Washington, D.C., and later earned her law degree from the University of California, Hastings. Her Canadian adolescence, however, remains a notable part of her journey, contributing to her multifaceted identity and global outlook.

Harris’s story is a testament to the impact of diverse experiences and the importance of embracing different cultures. Her time in Canada not only broadened her horizons but also prepared her for the challenges and opportunities that lay ahead in her remarkable career.


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