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Queen's law professor 'surprised' at probe into big banks' sales practices

Tuesday, August 22, 2017 @ 2:12 PM | By Ian Burns

A federal government agency tasked with overseeing the solvency of the banking sector is undertaking a review of Canadian banks’ sales practices, but a Queen’s University professor says the agency doesn't have jurisdiction over consumer protection provisions of the Bank Act.

Gail Henderson, Queen’s University's faculty of lawIn carrying out its examination of the federal financial sector framework, Ottawa recently released a consultation paper that said the Office of the Superintendent of Financial Institutions (OSFI) is “reviewing domestic retail sales practices at domestic systemically important banks,...