Tuesday, January 30, 2007
Dion & Trudeau
NDP proposes an end to ATM fees - Thursday January 25, 2007
Time for fairness for customers as banks enjoy record profits.
TORONTO – Average Canadians are getting “nickeled and dimed” by the big chartered banks says NDP Leader Jack Layton and the Conservative government has the power to make the cash-machine-money-grab disappear.
“The NDP thinks hard working Canadians should not be charged by banks when they deposit, withdraw or transfer their own money using an ATM,” said Layton. “The NDP will table amendments to the Bank Act that would eliminate fees for using ATMs.”
In 2005, Canadians used bank-owned ATMs to make over 700 million withdrawals. They used ATMs to make over 400 million other types of transactions. In doing so, Canadians had to cough up an estimated 420 million dollars to use their own money.
The NDP ATM amendments to the banking laws would eliminate fees:
- for using your bank’s ATMs and
- for using a competing banks ATM.
Layton says ample evidence exists to support this change to the Banking Act.
“Fees for basic services represent only 5 percent of revenues of the big six Canadian banks – hardly critical to the bottom line,” says Layton. “Its working families that are hurt most by these outrageous fees.”
Layton cited examples of banks in the United Kingdom and the United States that have removed fees and not suffered any significant financial set-back.
“TD Bank doesn’t think its American customers should have to pay these fees -- only its Canadian customers. British banks don’t charge these fees either. Why do people in the US and the UK get a break from their banks, but ordinary Canadians get gouged?” asked Layton.
In 2006, the six biggest banks posted profits just over $19 billion.
Wednesday, January 03, 2007
New Year’s message from Jack Layton
One year ago, millions voted NDP to make Parliament work and to put middle-class families first. Over the past year, that’s exactly what we’ve done – and that’s exactly what we’ll continue to do in 2007.
We’re working hard to ensure we get Canada on the right track in tackling climate change. We’re working hard to entrench in law a national system of childcare, re-instate the federal minimum wage and reduce costs for education and training. We’re dedicated to protecting the pocketbooks of middle class families by introducing restrictions on bank fees and credit card interest rates.
These are just some of our commitments to you in 2007. Along with our dedicated and tireless caucus, I will continue to work to put the priorities of middle-class families first and ensure fairness for ordinary people.
Happy New Year to all who make this country great.
Jack LaytonLeader of Canada’s NDP
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