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Financial Consumer Agency of Canada

 

 

Contact1: Martine Bélanger, Media Relations Officer
Phone (Bus): (613) 941-8982
(Fax): (613) 941-1436
E-mail: belanger.martine@fcac.gc.ca

Contact2: John Kane, Manager, External Communications
Phone (Bus): (613)941-8988
(Fax): (613)941-1436
E-mail: kane.john@fcac.gc.ca

Address: 427 Laurier Ave. W., 6th Floor, Enterprise Building, Ottawa, ON K1R 1B9
Web Site: www.fcac.gc.ca

Media room: www.fcac-acfc.gc.ca/eng/media/

English Toll-Free Phone: 1-866-461-3222
French Toll-Free Phone: 1-866-461-2232

Keys: ACFC; Agence de la consommation en matière financière du Canada; Bank Cards; Alternative Mortgages; Annual Fee; Annual Interest Rate; Anti-Phishing; Balance Transfer; Bank Closures; Bank Service Charges; Bank Service Packages; Bank accounts; Banks; Banques; Banking; Behind in Paying Mortgage; cartes de crédit; cartes de débit; Cash Advance; Cashing Federal Government Cheques; Coercive Tied Selling; Commissioner, Financial Consumer Agency of Canada; Compliance; Consumer Education; Consumer Protection; Consumer Provisions; Consumers' Financial Rights and Responsibilites; Convenience Cheque; Cost of Banking; Costs of Borrowing; Credit Card Debt; Credit Card Loyalty Programs; Credit Cards; Credit History; Credit Report; Credit Score; Data Protection; Debit Card Fraud; Debit Cards; Debt Management Products; FCAC; Federally Regulated Financial Institutions; Financial Complaint Process; Financial Consumer Agency of Canada; Financial Consumer Agency of Canada Act; Financial Consumers; Financial Information; Financial Literacy; Financial Services; frais de services bancaires; institution financière sous règlementation fédérale; Grace Period; Increasing Sophistication of Spam; Identity Theft; Skimming; Internet Scams;Insurance Companies; Interest Rates; Interest-Free Period; Loans; Low-Fee Accounts; Phishing; Debit Card Fraud; Credit Card Fraud; Mortgages; Opening a Bank Account; Public Accountability Statements; Payday Loan; prêt sur salaire; Reverse Mortgages; Rights; droits; Smart Cards; sociétés d'assurances; sociétés de fiducie et de prêt; taux d'intérêt; Trust and Loan Companies; Voluntary Codes of Conduct.

Expertise:
Created in 2001, the Financial Consumer Agency of Canada (FCAC) ensures compliance with the consumer protection laws that apply to banks, co-operative credit associations and federally incorporated trust, loan and insurance companies. FCAC also provides consumers with accurate and objective information about financial products and services, and informs Canadians of their rights and responsibilities when dealing with financial institutions.

Mandate:
The Financial Consumer Agency of Canada (FCAC) is committed to improving Canada’s financial marketplace by:

· overseeing and reporting on compliance by federally regulated financial institutions with federal consumer protection provisions, as well as with their own voluntary codes and public commitments; and

· providing information that enables consumers to understand their rights and make informed financial decisions.

Features:

· FCAC provides Canadians with free information on financial products and services through its toll-free call centre, Web site and print publications. The following are a few of the publications offered by FCAC:

Credit Cards and You (and interactive tool): This publication is available in print or as an interactive tool on FCAC’s Web site and compares the interest rates, fees, rewards and coverage of more than 200 credit cards in Canada. The guide also has tips on how to save money, how to protect yourself from credit card fraud, and how to get the most from your credit card.
The Cost of Banking Guide (and interactive tool): This publication is available in print or as an interactive tool on FCAC’s Web site and is designed to help consumers find the best banking service package for their needs. The Cost of Banking Guide compares the bank account packages offered by a variety of financial institutions across Canada.
Understanding Your Credit Report and Credit Score: Provides key information on how to obtain and understand your credit report and score, as well as what to do if you find errors on your credit report.
The ABC’s of Mortgages: Outlines the terms and conditions of a mortgage, consumers’ rights and responsibilities, and tips on how to pay a mortgage off faster. A mortgage calculator is also available on FCAC's Web site.

The Cost of Payday Loans: Explains payday loans, describes their costs, and compares these costs with other types of loans available to consumers.
Cashing your Government of Canada Cheque for Free
Opening a Personal Bank Account

· Consumers can also contact FCAC with questions, complaints or comments on financial services and products through the following channels:

Toll-free Consumer Contact Centre (1-866-461-3222), open Monday to Friday, 8:30 am to 6:00 pm, Eastern Time. Consumers can obtain information on financial products and services in both English and French. Consumers whose inquiry or complaint does not fall under FCAC’s jurisdiction will be directed to the appropriate organization.

FCAC Web site (www.fcac.gc.ca) provides user-friendly information on financial products and services, as well as consumers’ rights and responsibilities when dealing with financial institutions. The FCAC Web site also includes interactive tools to help consumers shop around and choose the best product for their needs, as well as quizzes, publications and more.

Consumers may also contact FCAC by e-mail (info@fcac.gc.ca) or by regular mail.

· Nous offrons tous nos services dans les deux langues officielles.

Story Ideas:
2007
June 14, 2007: FCAC Releases Easy-to-Use Tip Sheets on Financial Productsand Services
June 7, 2007: FCAC's Revamped Web Site Puts Financial Information at Your Fingertips
March 28, 2007: Five Minutes is all you need to compare 200 credit cards
March 19, 2007: Minutes is all it takes to compare 100 bank accounts
March 14, 2007: Protect Yourself from Identity Theft
March 7, 2007: March Is Fraud Awareness Month
January 25, 2007: FCAC Releases Latest Information on Credit Card Costs and Reminds Consumers to Check Monthly Statements
January 19, 2007: Risk of fraud affecting credit card users

2006
October 19, 2006: FCAC launches pre-paid payment card guide
September 20, 2006: Put your banking package to the test
September 6, 2006: Mortgage Smarts Can Save You Money
July 19, 2006: FCAC Cautions Consumers About New "Vishing" Scam
April, 12, 2006 : FCAC launches a new on-line tool, a searchable database of Frequently Asked Questions, to answer consumers' financial questions
April 11, 2006: Report highlights need for increased financial capability in Canada
February 15, 2006: Tips on avoiding credit card debt

2005
November 16, 2005: FCAC launches interactive credit card web tool
November 9, 2005: Banking packages: How does yours stack up?
October 26, 2005: Financial Consumer Agency of Canada releases results of its second mystery-shopping exercise
October 13, 2005: FCAC releases results of review of bank's mortgage disclosure documents
September 30, 2005: Important Information For Debit Card Users
September 9, 2005: FCAC, Seneca College Announce Project Partnership: Consumer-protection Compliance Administration
August 8, 2005: Identity Theft: Has Someone Been Trading On Your Good Name?
August 5, 2005: Build Your Credit History: Know How Credit Works - And Make It Work For You
March 31, 2005: FCAC Launches Complaint Database For Financial Consumers
March 16, 2005: FCAC Cautions Consumers About Fraudulent E-Mails
January 11, 2005: Holiday Bills Weighing You Down? Tips For Saving Money On Your Credit Card - FCAC Releases Updated Credit Card Guide

2004
December 22, 2004: FCAC Makes Branch Closure Database Available To The Public
November 5, 2004: FCAC Commissioner Identifies Two Financial Institutions In Violation of Consumer Protection Laws
October 13, 2004: FCAC Releases Annual Report
July 14, 2004: FCAC Releases Updated Credit Cards and You Guide
June 2, 2004: FCAC Launches Comprehensive Mortgage Toolkit
April 30, 2004: Financial Consumer Agency of Canada Releases Statistics from Consumer Contact Centre
March 11, 2004: Statement Re: MBNA Canada Bank Commissioner, Financial Consumer Agency of Canada
January 30, 2004: Financial Consumer Agency of Canada Releases Statistics from Consumer Contact Centre
January 8, 2004: FCAC Releases Redesigned Credit Cards and You Report

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updated: July 31, 2007