e-4398 (Consumer protection)
- Keywords
- Banks and banking
- Fees
Original language of petition: English
Petition to the Government of Canada
- Canadian financial institutions commonly charge a non-sufficient fund (NSF) fee when an account becomes overdrawn;
- Canada's Big Six banks typically charge between $45 to $48 for each instance while also rejecting payment requests;
- NSF fees overwhelmingly and disproportionally affect Canadian families that are already struggling financially;
- NSF fees can be equated to a tax on poverty; and,
- High NSF fees are not justifiable based on the administrative burden on the banks.
- Open for signature
- April 24, 2023, at 11:19 a.m. (EDT)
- Closed for signature
- August 22, 2023, at 11:19 a.m. (EDT)