Our Fair Banking campaign seeks to make mainstream banking fairer, while also fighting to end predatory lending and encourage the creation of alternative banking products for low and moderate income earners.
Our campaign demands are:
- Mandate the banks to provide access to low interest credit for emergencies;
- Mandate the banks to provide low interest overdraft protection;
- Mandate the banks to provide no holds on cheques;
- Mandate the banks to lower NSF fees from $45 to $10;
- Create a fund to support alternatives to predatory lenders, such as postal banking and credit union credit products geared toward low and moderate income families;
- Create a national multi-jurisdictional anti-predatory lending strategy;
- Create a real time national tracking system (or database) to help stop roll over loans;
- Amend the Criminal Code to lower the maximum interest rate from 60% to 30%.