Mandate Letter to Freeland | Page 2 | General financial discussion | Discussion forum

Bill said
Ms Freeland announced that her new measures give banks the "power to cut off services to those suspected of supporting the protesters". So if someone transfers $50 to someone the banks suspects is a protester the bank can cut off the sender's accounts, etc. Ok, fine. Does anyone know if this is one of the temporary measures or a permanent one? I found that the new FINTRAC rules for crowdfunding platforms will be permanent but I couldn't find anything definitive re this other measure.

Globe & Mail said the freezing of accounts is part of the temporary measures. It is hard to be definitive right now. We seems to just have announcements and not the actual legislation yet:

Banks will temporarily be allowed to freeze personal and business accounts suspected of being used to further the blockades without obtaining a court order, and without fear of being sued for doing so, Ms. Freeland said at a news conference. The measures will also allow police, government agencies and banks to share “relevant information.” That includes a requirement that banks report financial relationships with customers involved in the illegal blockades to the RCMP or the Canadian Security Intelligence Service.

Also, canada.ca site, under the heading Your Right To Open A Bank Account, says "In Canada, you have the right to open a bank account at a bank or a federally regulated credit union as long as you show proper identification." I'm assuming this statement is based on some legislation somewhere. Does anyone know if this right is now superceded by the above new measure?

Not superseded at all.

Frozen accounts are still open accounts!

I understand, but canada.ca says you have the right to open an account so I take that to mean you could open another one (elsewhere?). So to me that's in conflict with the denial of service wording of the new measures. It's all moot if it's true that it's a temporary measure related only to this situation, it's far different if this measure is intended to remain indefinitely to apply to other situations.

AR, thanks, and be assured I have no illusion about where our society is headed, but at my age I'm just going to enjoy my remaining moments and leave it to the young to sort out. Not my town any more.

Norman1 said
The Bank Act 448.1(1) right to open a personal account is not an unconditional one.

It is a common misunderstanding that rights are unlimited or unconditional.

A bank can refuse under conditions in Access to Basic Banking Services Regulations 3(1).  

Doug reported on this a few years ago and said, if I remember correctly, that the bank must provide you with their reason, and it must be one of the specified valid reasons, if you ask.

AR said
Bill, You will note that they are not arresting anyone but are establishing the precedence of confiscating wealth, your wealth, for any reason they say. You will not protest anything against the great dictator. For Christ sake, wake up people!
Anyone wants some better news sources, pm me. If no one supports my privilege here, for opinion, you know this one will probably be deleted too.  

I'm no rebel but these Emergency measures are over the top regarding citizen's banking and financing. Those who are all upset over a few health mandates really have something to cry over now. Banks can now freeze funds and accounts at their discretion with immunity. What can go wrong?

True, but the point being made is it's over the top to say someone can't bank any more because they sent $20 to what was once a legal protest. Not that it will happen, but the new measures would allow it. There are lots of appropriate law enforcement measures that can be used.

1. They ask for all mandates to end (protest) not resignation (occupation). 2. They move every so often when required.

All intersections (Ottawa) I see are clear. You should watch some of the videos.