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Ombudsman speaks out on TD Bank allegations

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Wealth Professional | 13 Mar 2017, 05:09 PM Agree 0
The head of Canada's main financial services ombudsman says allegations about aggressive sales tactics raise ``serious concerns''
  • FD | 13 Mar 2017, 05:41 PM Agree 0
    The Big Banks have been doing this for years and nothing has been done about it. The Federal Government looks the other way, so the best way to get back at them is to bring your business to your local credit union.
  • FB | 14 Mar 2017, 09:51 AM Agree 0
    The ombudsman is useless and does nothing when it comes to consumers protection. Another bureaucratic institution that doesn't do anything to earn the money they are paid!
  • FB | 14 Mar 2017, 09:51 AM Agree 0
    The ombudsman is useless and does nothing when it comes to consumers protection. Another bureaucratic institution that doesn't do anything to earn the money they are paid!
  • Peter | 14 Mar 2017, 04:39 PM Agree 0
    Independent advisors and brokers have been vocal about bank practices for decades to no avail. The banks have the regulators in their back pockets.

    Banks have used tied selling for years.

    Unlicensed bank employees sell Mortgage insurance (Life and critical illness) and Creditor insurance. Even give advice on RRSPs and TFSAs.

    Private banking and personal information is "shared" by the banks with their securities affiliate companies.

    But Jack and Jill Public still think that the banks act as his/her "trusted advisor" because they are on salary and not commission!
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