Tired of banking fees? Ottawa pushes for more no-, low-cost accounts

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Finance Minister Chrystia Freeland announced a suite of banking initiatives aimed at easing the cost of living crisis, with an eye toward the fall economic update.

WATCH: Inflation cooled to 3.8 per cent nationally in September, Statistics Canada said Tuesday, down from 4.0 per cent in August and snapping a streak of two consecutive monthly accelerations.says she is directing the Financial Consumer Agency of Canada to work on making no- and low-cost bank accounts more readily available for Canadians.

The deputy prime minister added Ottawa is looking at what measures the federal government may be able to bring forward to shift some properties away from short-term rental markets like Airbnb and Vrbo and back to the long-term market. “We are looking around and saying, what can we do right away that makes more homes available for Canadians? And the short-term rental is one of spaces,” Freeland said.“Some estimates I’ve seen suggest that in Toronto, Montreal and Vancouver alone you could get up to 30,000 more units right away for people.

 

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