Canadians bankers are taking exception to efforts by the country’s Finance Minister, Jim Flaherty, to alter the rules under which they sell insurance. After Flaherty sent a letter to banks suggesting stopping advertising insurance services online, the Canadian Bankers Association (CBA) issued a prompt rebuttal.
“We are completely shocked that Mr. Flaherty would want to limit how and where consumers can access information about insurance,” the CBA statement reads. “Further, Mr. Flaherty has taken this step without any public consultations with Canadians or the banking industry.”
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