GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bank Act — B-1.01
urban area , on a particular day, means a population centre , as defined in the census dictionary published by Statistics Canada for the purpose of the most recent general census whose results have been published before that day, that has a minimum population of 10,000 natural persons on the basis of that census. ( zone urbaine )
Bank Act — B-1.01 627.02
Training 627.02 An institution shall ensure that its officers and employees in Canada, and any person who offers or sells the institution’s products or services in Canada, are trained with respect to the policies and procedures that it has established for complying with the consumer provisions. 2018, c. 27, s. 329
Bank Act — B-1.01 627.03
False or misleading information 627.03 No institution shall communicate or otherwise provide false or misleading information to a customer, the public or the Commissioner. 2018, c. 27, s. 329
Bank Act — B-1.01 627.04
Prohibited conduct 627.04 An institution shall not, in its dealings in Canada with its customers and the public, (a) impose undue pressure on a person, or coerce a person, for any purpose, including to obtain a product or service from a particular person — including the institution and any of its affiliates — as a condition for obtaining another product or service from the institution; (b) take advantage of a person; or (c) engage in any prescribed conduct. 2018, c. 27, s. 329
Bank Act — B-1.01 627.05
For greater certainty 627.05 (1) For greater certainty, an institution may offer a product or service to a person on more favourable terms or conditions than it would otherwise offer, if the more favourable terms and conditions are offered on the condition that the person obtain another product or service from any particular person. For greater certainty (2) For greater certainty, an affiliate of an institution may offer a product or service to a person on more favourable terms or conditions than the affiliate would otherwise offer, if the more favourable terms and conditions are offered on the condition that the person obtain another product or service from the institution. Approval by institution (3) If a product or service is obtained by a borrower from a particular person as security for a loan from an institution, the institution may require that the product or service meet with its approval. That approval shall not be unreasonably withheld. 2018, c. 27, s. 329
Bank Act — B-1.01 627.06
Policies and procedures — appropriate products or services 627.06 An institution shall establish and implement policies and procedures to ensure that the products or services in Canada that it offers or sells to a natural person other than for business purposes are appropriate for the person having regard to their circumstances, including their financial needs. 2018, c. 27, s. 329
Bank Act — B-1.01 627.07
Remuneration, payment or benefit 627.07 An institution shall ensure that the remuneration of its officers and employees in Canada — and of any person who offers or sells its products or services in Canada — as well as any payment or benefit that the institution offers to them, does not interfere with the person’s ability to comply with the policies and procedures referred to in section 627.06. 2018, c. 27, s. 329
Bank Act — B-1.01 627.08
No provision without express consent and agreement 627.08 (1) Subject to any regulations, an institution shall not provide a person with a product or service in Canada without first (a) obtaining the person’s express consent to do so; (b) entering into an agreement with the person for it to be provided; and (c) providing the person with a copy of the agreement, if the agreement is for a product or service to be provided on an ongoing basis. Oral consent — written confirmation (2) If the consent is given orally, the institution shall provide the person with written confirmation of that consent without delay. Use not consent (3) Use by the person of the product or service does not constitute express consent for the purpose of subsection (1). 2018, c. 27, s. 329
Bank Act — B-1.01 627.09
Obtaining express consent 627.09 Any communication from an institution seeking a person’s express consent shall be made in a manner, and using language, that is clear, simple and not misleading. 2018, c. 27, s. 329
Bank Act — B-1.01 627.1
Cancellation periods — products or services 627.1 (1) Subject to subsection (1.1), if an institution enters into an agreement with a person in respect of a product or service in Canada — other than a prescribed product or service or a product or service referred to in section 627.11 — to be provided on an ongoing basis, the institution shall allow the person to cancel the agreement, (a) if it was entered into by mail or orally by telephone, within the prescribed period or, if there is no prescribed period, until the end of the 14th business day after the day on which the agreement is entered into; or (b) if it was entered into in any other manner, within the prescribed period or, if there is no prescribed period, until the end of the third business day after the day on which the agreement is entered into. Exception (1.1) Subsection (1) does not apply to a body corporate, trust or partnership if it is a business that is not an eligible enterprise. Obligations of institution (2) If a person notifies an institution that they are cancelling an agreement within the applicable period referred to in subsection (1), the institution shall (a) in writing and without delay, acknowledge receipt of the person’s notice of cancellation and confirm what it intends to recover under subsection (3); and (b) without delay, refund to the person any amount that it received in respect of the provision of the product or service. Limited recovery (3) In the event of a cancellation within the applicable period referred to in subsection (1), an institution shall waive any cancellation charge and may recover only (a) any amounts related to the person’s use of the product or service prior to the cancellation; (b) any expense that the institution has reasonably incurred in providing the product or service; and (c) any prescribed amount. 2018, c. 27, s. 329 2021, c. 23, s. 151
Bank Act — B-1.01 627.11
Cancellation — certain products or services 627.11 (1) If an institution enters into an agreement with a person in respect of a retail deposit account, deposit-type instrument, credit card account or any prescribed product or service in Canada, the institution shall allow the person to cancel the agreement in accordance with any prescribed requirements. Obligation of institution (2) If the person cancels the agreement, the institution shall meet any prescribed requirements. 2018, c. 27, s. 329
Bank Act — B-1.01 627.12
Imposition of charges or penalties 627.12 (1) An institution shall not impose on a person a charge or penalty in relation to a product or service in Canada unless (a) the institution has obtained from the person the express consent referred to in paragraph 627.08(1)(a); (b) the agreement in respect of the product or service provides for its imposition; and (c) the institution discloses the charge or penalty in accordance with this Part. Court order (2) Subsection (1) does not preclude the institution from receiving an amount in relation to a product or service that is determined under an order of a court. 2018, c. 27, s. 329
Bank Act — B-1.01 627.13
Alert 627.13 (1) An institution shall, without delay, send to a natural person an alert, by electronic means, (a) if the balance of the person’s personal deposit account that is opened in Canada falls below any amount that the person communicates to the institution or, if the person does not communicate an amount, below the prescribed amount or, if there is no prescribed amount, $100; or (b) if the amount of credit available on the person’s line of credit that is extended — or credit card account that is opened — in Canada other than for business purposes falls below any amount that the person communicates to the institution or, if the person does not communicate an amount, below the prescribed amount or, if there is no prescribed amount, $100. Exception (2) Subsection (1) does not apply if the person has opted out, in writing, of receiving the alert or does not provide the contact information required to receive the alert. Content (3) The alert shall indicate that the balance of the personal deposit account, or the amount of credit available on the line of credit or credit card account, has fallen below the amount communicated to the institution, below the prescribed amount or below $100, as the case may be, and that, in accordance with the agreement in respect of the product or service, charges or penalties may be imposed for the most recent transaction, or for any subsequent transaction, made on the account or line of credit. The alert shall also indicate what the person may do to avoid charges or penalties and the time within which it is to be done, and include any prescribed information. 2018, c. 27, s. 329
Bank Act — B-1.01 627.14
Advertisements 627.14 Any advertisement in Canada that is made by an institution shall be accurate, clear and not misleading. 2018, c. 27, s. 329
Bank Act — B-1.01 627.15
Arrangements with affiliates, etc. 627.15 An institution shall not enter into any arrangement or otherwise cooperate with any of its representatives, agents or other intermediaries, with any of its affiliates that are controlled by a bank or a bank holding company and that are a finance entity as defined in subsection 464(1) or other prescribed entity, or with any of the representatives, agents or other intermediaries of such an affiliate, to sell or further the sale of a product or service of the institution or the affiliate unless (a) the affiliate or the representative, agent or other intermediary of the institution or the affiliate, as the case may be, complies, with respect to the product or service, with the consumer provisions that apply to institutions, as if it were an institution, to the extent that those provisions are applicable to its activities; (b) the persons who request or receive the product or service have access to the institution’s procedures established for dealing with complaints under paragraph 627.43(1)(a) as if the product or service had been requested or received from the institution; (c) the employees of the affiliate or the representative, agent or other intermediary of the institution or the affiliate, as the case may be, (i) may report particulars under subsection 979.2(1) to the affiliate or the representative, agent or other intermediary of the institution or the affiliate as if they were an employee of a bank, and (ii) have access to the procedures established under section 979.3; and (d) the affiliate or the representative, agent or other intermediary of the institution or the affiliate, as the case may be, complies with section 979.4 as if it were a bank. 2018, c. 27, s. 329
Bank Act — B-1.01 627.16
Intermediary for another entity 627.16 If an institution is acting in the capacity of a representative, agent or other intermediary for another entity in respect of a product or service provided by the entity, the institution shall ensure that an agreement in respect of that product or service complies with the prescribed requirements. 2018, c. 27, s. 329
Bank Act — B-1.01 627.17
Opening 627.17 (1) Subject to subsection (2), a member bank shall, at any point of service or any branch in Canada at which it opens retail deposit accounts through natural persons, open a retail deposit account on the request, made there in person, of a natural person who (a) presents to the member bank (i) two documents from a reliable source — one of which indicates the person’s name and address and the other the person’s name and date of birth — including (A) identification issued by the Government of Canada or the government of a province, (B) recent notices of tax assessments issued by the Government of Canada or the government of a province or municipality, (C) recent statements of benefits from the Government of Canada or the government of a province, (D) recent Canadian public utility bills, (E) recent bank account or credit card statements, (F) foreign passports, and (G) any prescribed document, or (ii) any document from a reliable source that indicates the person’s name and date of birth, if the person’s identity is also confirmed by a customer in good standing with the member bank or by a natural person of good standing in the community where the point of service or branch is located; (b) if the member bank so requests, consents to the member bank’s verifying whether any of the circumstances set out in paragraphs 627.18(1)(a) to (d) applies to the person, and to the member bank’s verifying the documents presented by the person; (c) if the member bank — based on its verification of the circumstances set out in paragraphs 627.18(1)(a) to (d) or of the documents presented by the person or based on any information provided by the person in connection with the request — has reasonable grounds to suspect that the person is misrepresenting their identity, presents to the member bank one piece of identification issued by the Government of Canada or the government of a province that bears the person’s photograph and signature; (d) if the member bank is a federal credit union and so requests, becomes a member of the bank; and (e) meets any prescribed condition. Opening at another location (2) If a natural person who meets the conditions set out in subsection (1) requests the opening of a retail deposit account at a point of service at which the opening of such an account can only be initiated, the member bank is not required to open the account at that point of service; however, the bank shall open the account at another physical location. Request made in other manner (3) A member bank shall open a retail deposit account for any natural person who requests it in any prescribed manner and who meets any prescribed condition. No minimum deposit or balance required (4) A member bank shall not require the natural person to make an initial minimum deposit or maintain a minimum balance. 2018, c. 27, s. 329
Bank Act — B-1.01 627.18
Non-application 627.18 (1) Subsections 627.17(1) to (3) do not apply (a) if the member bank has reasonable grounds to believe that the retail deposit account will be used for illegal or fraudulent purposes; (b) if the natural person has a history of illegal or fraudulent activity in relation to providers of financial services and the most recent instance of such an activity occurred less than seven years before the day on which the request to open a retail deposit account is made; (c) if the member bank has reasonable grounds to believe that the natural person, for the purpose of opening the retail deposit account, knowingly made a material misrepresentation in the information provided to the member bank; (d) if the member bank has reasonable grounds to believe that it is necessary to refuse to open the retail deposit account in order to protect the customers or employees of the member bank from physical harm, harassment or other abuse; (e) if the request is made at a branch or point of service of a member bank at which the only retail deposit accounts offered are those that are linked to an account at another financial institution; or (f) in any prescribed circumstances. Bankruptcy (2) For greater certainty and for the purpose of paragraph (1)(a), the fact that the natural person is or has been a bankrupt does not, by itself without any evidence of fraud or any other illegal activity in relation to the bankruptcy, constitute reasonable grounds for a member bank to believe that an account for the person will be used for illegal or fraudulent purposes. 2018, c. 27, s. 329
Bank Act — B-1.01 627.19
Refusal to open 627.19 A member bank that refuses to open a retail deposit account for a natural person shall provide the person with (a) a written statement that indicates that it will not be opening the account; and (b) the information referred to in paragraphs 627.65(a) to (c). 2018, c. 27, s. 329
Bank Act — B-1.01 627.2
Application 627.2 Sections 627.21 and 627.22 apply only with respect to paper-based cheques or other paper-based instruments deposited in Canada that are (a) encoded with magnetic ink to allow for character recognition; (b) not damaged or mutilated to the extent that they are unreadable by cheque-clearing systems; (c) drawn on an institution’s branch in Canada; and (d) issued in Canadian dollars. 2018, c. 27, s. 329
Bank Act — B-1.01 627.21
Availability 627.21 An institution shall make available for withdrawal any funds deposited by cheque or other instrument into a retail deposit account or into a deposit account held by an eligible enterprise (a) in the case of a cheque or other instrument in an amount that is not greater than the prescribed amount, (i) if the deposit is made in person with an employee at one of the institution’s branches or points of service, within the prescribed period or, if there is no prescribed period, no later than four business days after the day of the deposit, or (ii) if the deposit is made in any other manner, within the prescribed period or, if there is no prescribed period, no later than five business days after the day of the deposit; and (b) in the case of a cheque or other instrument in an amount that is greater than the prescribed amount, (i) if the deposit is made in person with an employee at one of the institution’s branches or points of service, within the prescribed period or, if there is no prescribed period, no later than seven business days after the day of the deposit, or (ii) if the deposit is made in any other manner, within the prescribed period or, if there is no prescribed period, no later than eight business days after the day of the deposit. 2018, c. 27, s. 329
Bank Act — B-1.01 627.22
First amount available 627.22 An institution shall make the prescribed amount of funds deposited or, if there is no prescribed amount, the first $100 of all funds deposited by a cheque or other instrument into a retail deposit account available for withdrawal (a) immediately, if the deposit is made in person with an employee at one of the institution’s branches or points of service; or (b) on the business day following the day of the deposit, if the deposit is made in any other manner. 2018, c. 27, s. 329
Bank Act — B-1.01 627.23
Non-application 627.23 Section 627.21 does not apply in respect of a deposit that is made by an eligible enterprise if the institution has reasonable grounds to believe that there is a material increased credit risk, having regard to the following factors, among others: (a) an escalating overdraft balance that is not being reduced by deposits received; (b) a negative change in the credit score or other behaviour scores that may impact the enterprise’s credit risk; (c) an unexplained change in the history of cheques or other instruments deposited into the account; (d) a high number of cheques or other instruments deposited that are returned as dishonoured items from other institutions, which may impact the available balance in the account; (e) notice of bankruptcy or of creditor action against the enterprise; and (f) any prescribed factor. 2018, c. 27, s. 329
Bank Act — B-1.01 627.24
Non-application 627.24 (1) Sections 627.21 and 627.22 do not apply (a) if the institution has reasonable grounds to believe that the deposit is being made for illegal or fraudulent purposes in relation to the depositor’s account; (b) if the account has been open for fewer than 90 days; (c) if the cheque or other instrument has been endorsed more than once; (d) if the cheque or other instrument is deposited at least six months after the date of the cheque or other instrument; or (e) in any prescribed circumstances. Refusal to make funds available (2) An institution that relies on subsection (1) as grounds for not complying with section 627.21 or 627.22 shall — immediately, if the deposit is made in person with an employee at one of the institution’s branches or points of service or on request of the depositor if the deposit is made in any other manner — provide the depositor with (a) a written statement that indicates that it will not be making the funds available; and (b) the information referred to in paragraphs 627.65(a) to (c). 2018, c. 27, s. 329
Bank Act — B-1.01 627.25
Cashing 627.25 (1) A member bank shall, at any branch in Canada at which it, through natural persons, opens retail deposit accounts and disburses cash to customers, cash a cheque or other instrument on the request of a natural person made there in person if (a) the cheque or other instrument is drawn on the Receiver General or on the Receiver General’s account in the Bank of Canada or in any bank or other deposit-taking Canadian financial institution incorporated by or under an Act of Parliament, or is any other instrument issued as authority for the payment of money out of the Consolidated Revenue Fund; (b) the person presents to the member bank (i) the documents referred to in subparagraph 627.17(1)(a)(i), (ii) one piece of identification that is issued by the Government of Canada or the government of a province and that bears the person’s signature and photograph, or (iii) any document from a reliable source that indicates the person’s name and date of birth, if the person’s identity is also confirmed by a customer in good standing with the member bank or by a natural person of good standing in the community where the branch is located; (c) the amount of the cheque or other instrument is not greater than the prescribed amount; and (d) any prescribed condition is met. Non-application (2) Subsection (1) does not apply (a) if there is evidence that the cheque or other instrument has been altered in any way or is counterfeit; (b) if the member bank has reasonable grounds to believe that there has been illegal or fraudulent activity in relation to the cheque or other instrument; or (c) in any prescribed circumstances. Refusal to cash (3) A member bank that refuses to cash for a natural person a cheque or other instrument that meets the conditions set out in paragraphs (1)(a), (c) and (d) shall provide the person with (a) a written statement that indicates that it will not be cashing the cheque or other instrument; and (b) the information referred to in paragraphs 627.65(a) to (c). 2018, c. 27, s. 329
Bank Act — B-1.01 627.26
No charges 627.26 (1) An institution shall not impose a charge (a) for cashing a cheque or other instrument drawn on the Receiver General or on the Receiver General’s account in the Bank of Canada, in any bank or other deposit-taking Canadian financial institution incorporated by or under an Act of Parliament or in any authorized foreign bank that is not subject to the restrictions and requirements referred to in subsection 524(2), in respect of its business in Canada; (b) for cashing any other instrument issued as authority for the payment of money out of the Consolidated Revenue Fund; or (c) in respect of any cheque or other instrument that is (i) drawn in favour of the Receiver General, the Government of Canada or any department of it or any public officer acting in the capacity of a public officer, and (ii) tendered for deposit to the credit of the Receiver General. Deposits of Government of Canada (2) Nothing in subsection (1) precludes any arrangement between the Government of Canada and an institution concerning (a) compensation for services performed by the institution for the Government of Canada; or (b) interest to be paid on any or all deposits of the Government of Canada with the institution. 2018, c. 27, s. 329