Government should focus on cultivating competition in the financial sector

Unless policy is actively designed to foster a robust credit union sector, only the very largest will be able to bear the costs of technology and ever-increasing regulation, resulting in more concentration, fewer choices, and higher costs for Canadian consumers.

Finance Minister Chrystia Freeland and Minister of Innovation, Science and Industry François-Philippe Champagne pictured on Oct. 5, 2023. Governments will never keep pace with technological change, but there needs to be a renewed focus on a competitive and dynamic financial sector from policymakers at the federal level, writes Michael Hatch.The Hill Times photograph by Andrew Meade

Opinion

BY MICHAEL HATCH

November 16, 2023

A recent piece in this paper opined that “Canadians deserve more from our financial sector." Canada’s 400 credit un...

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