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Finance Minister Oliver says banks to offer customers more financial information

September 3, 2014

The Canadian Press

TORONTO - Federal Finance Minister Joe Oliver says Canadian banks will soon be providing customers with more information about potential risks associated with things like joint bank accounts, power of attorneys and collateral mortgages.

Oliver says general information on the topics will be posted on bank websites as well as being available in bank branches by the end of the year.

Bank staff will also be trained to give this information directly to clients.

The finance minister says the information will provide an additional level of transparency to numerous financial products available.

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Source: Canadian Press DataFile

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