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BMO Faces $4‑Million Penalty for Long‑Running Customer Overcharges

The Bank of Montreal has been fined $4 million by Canada’s federal banking regulator after an internal review revealed the bank had overcharged more than 100,000 customers enrolled in discounted banking plans. The issue spanned over a decade and affected clients who were supposed to receive reduced or waived fees through specialized programs. According to the regulator, the bank failed to apply fee waivers correctly and did not clearly disclose when discounted pricing would begin. As a result, customers in programs for newcomers, students in medical and dental fields, Indigenous clients, and mortgage‑related plans were charged fees they should not have paid. BMO has refunded millions to affected customers and made additional donations in cases where refunds were not possible. The bank stated that it self‑reported the issue and has since updated its internal processes to prevent similar errors. The fine highlights the ongoing scrutiny of consumer protection practices within Canada...
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Trump Eases Global Tariffs but Maintains Stance on Canada



In a surprising move, U.S. President Donald Trump has partially reversed his aggressive tariff policies, pausing the highest levies on several nations for 90 days. However, Canada remains excluded from this reprieve. The baseline 10% tariff on imports to the U.S. persists, alongside specific duties on Canadian goods, including automobiles and energy products.

Trump's decision follows mounting pressure from over 75 countries seeking negotiations to mitigate the economic chaos caused by his "reciprocal" tariff regime. While some nations saw relief, Trump doubled down on tariffs for China, raising them to a staggering 125%.

Canada, meanwhile, has responded with retaliatory measures, including tariffs on U.S. vehicles and other goods. The ongoing trade tensions highlight the complexities of Trump's global trade strategy and its ripple effects on international markets.

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