New federal rules limiting non-sufficient funds fees to $10 kick in Thursday [BNN Bloomberg (Canada)]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: BNN Bloomberg
Canada's new cap on non-sufficient funds fees is set at $10 for personal deposit accounts. The changes, announced by Ottawa last year and which kicked in on Thursday, also prohibit banks from charging more than one NSF fee in a period of two business days for the same deposit account, and ban charging an NSF fee when an account shortfall is under $10. The federal government has said that until now, NSF fees could be as high as $50. Advocates have said the charge disproportionately affected low-income Canadians and people with poor credit history. The new cap is expected to save Canadians more than $600 million annually. ACORN Canada, a national organization for low- and moderate-income families, celebrated the new rules, calling it a “major win” for its members “who have long been gouged by fees.” “These changes will directly benefit millions of Canadians — especially renters, single parents, gig workers, and people living paycheque to paycheque — by preventing fees from sp
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- 3/13/26 - Form 424B2
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