Insights
Providing insight into highly specialized, technical fields of law.
Bank Corporate Governance, Committees of the Board
Within the Bank Act of Canada, Part VI—Corporate Governance, provides explicit guidelines concerning the governance structure of financial institutions. In particular, Sections 193 to 195 guide the establishment and functions of various committees composed of...
Bank Corporate Governance
The Bank Act expressly addresses corporate governance principles within the banking sector in Part VI—Corporate Governance. This post focuses on section 157, as discussed in The 2024 Annotated Bank Act (Thomson Reuters, 2023), dissecting the key components that govern...
Incorporating a Federal Credit Union
Within the Bank Act, Part III–Incorporation and Continuance lays the groundwork for establishing and modifying banks and federal credit unions. This post will explore the incorporation process, the unique requirements for federal credit unions, and the transitional...
Domestic Systemically Important Banks (D-SIBs)
Introduced in 2016, D-SIBs are designated to protect consumers from the damages of large banks collapsing.
How are banks formed?
How are banks formed?
Understanding Federal Credit Unions
What is a credit union? What differentiates a bank from a federal credit union?
Defining key terms in the Bank Act
Like any legislation, the Bank Act contains phrases, words, and sentences that are worded to ensure a specific legal outcome. The "Definitions" section provides meaning to most of these key terms. However, definitions are also contained in other sections of the Act....
Status and Powers of Banks
What happens if a bank exercises their powers in a way which exceeds their authority under the Bant Act?
The Bank Act’s New Financial Consumer Protection Framework
One of the most significant developments in banking law last year was the enactment of comprehensive reforms to how banks deal with their customers.
