Peterson-Rafuse wants answers from Furey on consumer financial protections

March 16, 2017

For immediate release.

HALIFAX – NDP MLA Denise Peterson-Rafuse has written to Mark Furey, Minister Responsible for Service Nova Scotia, asking a number of questions about what the province is doing in response to allegations about unscrupulous banking practices at the five big banks.  A CBC Go Public Investigation has revealed employees at the big banks often feel pressured to “upsell, trick, and even lie to customers” about financial services.

“While this is an area of federal jurisdiction, the province has a major role to play in helping to inform consumers on their rights,” said Peterson-Rafuse, NDP critic for Service Nova Scotia. “Nova Scotians need to be aware that these allegations may have impacted their investments, savings, debts and service fees.”

The federal NDP has called for a parliamentary inquiry into these allegations. Peterson-Rafuse is encouraging the Minister to support the call for a parliamentary inquiry.

“Nova Scotians, and all Canadians deserve some answers and some assurances that they will not be taken advantage of by their bank,” said Peterson-Rafuse. “I look forward to the Minister’s response and hope he will support the call for a parliamentary inquiry, so we can all get to the bottom of these allegations.”

In her letter, Peterson-Rafuse asked the Minister for a response to five questions:

  • What steps is your department taking to inform Nova Scotians about these banking practices?
  • Has there been any communication between the government of Nova Scotia and any of these five financial institutions to discuss these allegations?
  • How will Service Nova Scotia work with federal counterparts to inform and protect consumers here in our province?
  • Will you and your government support the call for a parliamentary inquiry into this situation?
  • What do you see your role, as Minister, in addressing this situation going forward?

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For more information please contact Kaley Kennedy at (902) 229-6881 or kaley.kennedy@novascotia.ca