OTTAWA — The federal Opposition on Monday called on the Harper government to stop credit card companies from charging businesses higher fees for using premium cards.
The call came as a federal competition tribunal prepared to rule on whether Visa and MasterCard are engaging in anti-competitive behaviour.
Small business groups hope the tribunal will recommend that Ottawa forbid the major credit card companies from forcing retailers to accept cards that carry higher payment processing fees.
As with all other such similar deals, it was well telegraphed.
A few days back, Canadian Credit Card Trust filed a short-form base shelf prospectus allowing it to raise up to $1.7-billion via the sale of credit card receivables over the next 25 months.
Credit card issuers will be required to provide a standard 21-day grace period on payments for new purchases under regulations being introduced by the Canadian government, Finance Minister Jim Flaherty said Thursday.
Despite the myriad headwinds and concerns that the operating backdrop continues to present, the Canadian banking sector is set to end 2012 with another year of solid operating performance
Royal Bank of Canada, Toronto-Dominion Bank and other Canadian lenders will report quarterly profit growth of as much as 17%, demonstrating the banks’ resilience even as the world’s 11th-largest economy slows.
TORONTO — Hudson’s Bay Co. is overhauling its rewards programs in a bid to encourage its best customers to spend more money.
Cannily launched the same month Target begins offering its loyalty card to Canadians in advance of its March opening, the rewards program was revamped because consumer response to its HBC Rewards card — a legacy of former management, launched in 2001 — has become somewhat tepid.
Filed under: Credit Cards, Taxes
There's nothing like the adrenaline rush of scrambling to get to the bank during business hours to pay thousands of dollars in HST, income tax and CPP to the Canadian Revenue Agency (CRA) via bank draft.