Bank Act (S.C. 1991, c. 46)

Act current to 2013-05-20 and last amended on 2013-03-13. Previous Versions

Complaints

Marginal note:Procedures for dealing with complaints

  • 573. (1) An authorized foreign bank shall

    • (a) establish procedures for dealing with complaints made by persons having requested or received products or services from the authorized foreign bank;

    • (b) designate one of its officers or employees in Canada to be responsible for implementing those procedures; and

    • (c) designate one or more of its officers or employees in Canada to receive and deal with those complaints.

  • Marginal note:Procedures to be filed with Commissioner

    (2) An authorized foreign bank shall file with the Commissioner a copy of its procedures established under paragraph (1)(a).

  • Marginal note:How procedures to be made available

    (3) An authorized foreign bank shall make its procedures established under paragraph (1)(a) available

    • (a) in the form of a brochure, at its branches where products or services are offered in Canada;

    • (b) on its websites through which products or services are offered in Canada; and

    • (c) in written format to be sent to any person who requests them.

  • Marginal note:Information on contacting Agency

    (4) An authorized foreign bank shall also make prescribed information on how to contact the Agency available whenever it makes its procedures established under paragraph (1)(a) available under subsection (3).

  • 1991, c. 46, s. 573;
  • 1999, c. 28, s. 35;
  • 2001, c. 9, s. 155;
  • 2007, c. 6, s. 90.
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Marginal note:Obligation to be member

573.1 An authorized foreign bank shall be a member of any body corporate that is designated under subsection 455.1(1).

  • 2001, c. 9, s. 156.
Marginal note:Information on contacting Agency

  • 574. (1) An authorized foreign bank shall, in accordance with the regulations, at the prescribed time and place and in the prescribed form and manner, provide a person requesting or receiving a product or service from it with prescribed information on how to contact the Agency if the person has a complaint about an arrangement referred to in subsection 570(3), a payment, credit or charge card, the disclosure of or manner of calculating the cost of borrowing in respect of a loan, or about any other obligation of the authorized foreign bank under a consumer provision.

  • Marginal note:Report

    (2) The Commissioner shall prepare a report, to be included in the report referred to in section 34 of the Financial Consumer Agency of Canada Act, respecting

    • (a) procedures for dealing with complaints established by authorized foreign banks pursuant to paragraph 573(1)(a); and

    • (b) the number and nature of complaints that have been brought to the attention of the Agency by persons who have requested or received a product or service from an authorized foreign bank.

  • 1991, c. 46, s. 574;
  • 1999, c. 28, s. 35;
  • 2001, c. 9, s. 157;
  • 2012, c. 5, s. 69.
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