News item - Toronto Sun
OTTAWA - Prepaid credit cards must have its fees clearly displayed and can no longer expire, Finance Minister Jim Flaherty announced Wednesday.
Under the new regulations, prepaid cards must fully disclose any fees and conditions, must not expire and eliminate any unused balance, and also can't have maintenance fees for a year after card activation.
"We want to be sure Canadians understand what fees and conditions apply to prepaid products so that they can continue making informed decisions in the day-to-day lives," Flaherty said.
--------------------------------------------------------------------------------------------------------------------------
Thank you Mr. Flaherty. It is about time. too bad we have to rely on the government to keep major financial and business institutions from screwing consumers. We all like honest profit, but there needs to be a return to ethical business practices.
visit my seniors website
No comments:
Post a Comment