The Agenda with Steve Paikin (Audio)Would Bank Competition Boost the Economy?
Canadian banks have a global reputation as safe, secure institutions with reliable dividends for investors. But federal policies have given the Big 6 a dominant position that has resulted in a lack of real competition among them, leading to excessive fees for customers and a risk aversion that weighs on the Canadian economy at large. A look at why Canada's protected financial services market needs to change in service to all Canadians, and whether credit unions or online banks offer a better alternative.
