Task Force on Financial Literacy has released a report

The Task Force on Financial Literacy has released a report summarizing the public consultations it carried out earlier this year. The report, released Wednesday summarizes the principal themes, issues and suggestions the task force heard in its consultations, including: the need for tools to assist people with budgeting, saving and debt repayment; the need for…


Credit card 2.0 prevents fraud by shutting itself down

Dynamics Card 2.0 is part of the next-generation in payment devices but it can still be used in 1970s-era magnetic stripe readers, unlike the alternative chip cards. Jeff Mullen, CEO of Dynamics, Inc., said the programmable magnetic stripe card is still in its testing phase but that the cards have likely been used in Canada…


Canadians being more cautious with debt, says banker

The slowdown in Canada’s housing market suggests consumers are being more “prudent” with credit after racking up a record amount of household debt earlier this year, says one of this country’s top bankers. Gerry McCaughey, chief executive officer of the Canadian Imperial Bank of Commerce, said he is confident that Canadians remain capable of keeping…


B.C. residents are experienced homebuyers and savvy about their mortgage options

For B.C. residents, it’s home sweet home – for now. They have owned many homes and don’t stay in any for very long. One in five has owned more than five homes according to the TD Canada Trust Repeat Home Buyers Report, which surveyed Canadians who have either purchased or intend to purchase a home…


Why rising interest rates haven’t flattened the housing market

The Bank of Canada cranked up its trendsetting overnight rate for the third time in four months on Wednesday and the impact will be felt by a wide range of borrowers. But home buyers? Not so much. True, the central bank’s increase of one-quarter of a percentage point has already been applied by the major…


CommunityLend Expands into British Columbia

The New Peer-to-Peer Lending service CommunityLend has announced today that it is entering the BC market. The new Peer-to-Peer Lending service helps borrowers to get better rates by cutting out the “middleman” in Canada’s multi-billion dollar personal lending market. I have pasted the press release below. Enjoy! Toronto, ON – September 1, 2010: Canadian Internet…