Navigating the consumer-driven banking framework: Budget Implementation Act, 2024

By Darcy Ammerman and Fengge Sun (September 6, 2024, 10:59 AM EDT) -- On April 30, 2024, the federal government introduced the Budget Implementation Act, 2024, No. 1 (the Bill), which was tabled as the Notice of Ways and Means Motion, to establish specific aspects of the 2024 budget (Budget 2024), marking a significant step towards reshaping Canada’s banking landscape with the introduction of consumer-driven banking. This extensive legislation addresses various aspects impacting financial services and prominently features the framework for consumer-driven banking....