Freeland vows action on NSF bank fees in fall economic statement

Freeland said Finance Canada would look into how “much these fees can be reduced” and would take action in the upcoming fall economic statement to address these “unfair fees.”Innovation, Science and Industry Minister Francois-Philippe Champagne and Deputy Prime Minister and Minister of Finance Chrystia Freeland and President of the Treasury Board Anita Anand hold press conference in Ottawa on Tuesday, Oct. 17, 2023.

Finance Minister Chrystia Freeland says Ottawa is looking into ways to crack down on bank fees as the Liberals prepare to roll out new measures aimed at making life more affordable for Canadians. During a press conference on Tuesday, Freeland said in French that the Liberals would take action on these fees, starting with non-sufficient funds fees charged by banks.

“These fees, which can amount to $50, disproportionately affect Canadian women and the most vulnerable Canadians, some of whom live paycheque to paycheque,” she said.

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