Fintechs Canada calls for pro-competition reforms in SME financing
Fintechs Canada is calling on the Competition Bureau to use its market study on small and medium-sized enterprise (SME) financing to recommend reforms that would strengthen competition and improve access to credit for Canadian businesses. In its submission, the association says Canada’s SME financing market is less competitive than those in peer jurisdictions, with structural […]
Fintechs Canada testifies before Senate banking committee
Vega emphasized that the measures in Bill C-15, the budget implementation bill, are big steps toward a more competitive and innovative financial sector.
Fintechs Canada supports Payments Canada governance, compliance reforms
Fintechs Canada has filed two submissions with the federal government as part of Finance Canada’s consultation on proposed amendments to the Canadian Payments Act’s regulations and by-laws. The association backed the reforms, but also urged the government to refine them to support stronger governance and greater transparency.
A stronger, more open financial sector can strengthen North American trade
“A strong and innovative financial sector is the backbone of North American trade and economic growth,”said Fintechs Canada’s executive director, Adriana Vega, in the letter. “When money and data move seamlessly through trusted networks, businesses gain access to new markets, investors deploy capital with confidence, and exporters can better manage currency and supply chain risks.”
Fintechs Canada calls for action to improve SME access to financing
“Canada’s SMEs need a financial sector that works for them,” said Adriana Vega, Executive Director of Fintechs Canada. “By addressing regulatory barriers and promoting greater competition, we can create a more dynamic financial ecosystem that supports entrepreneurship, job creation, and economic growth.”
Fintechs Canada urges Ottawa to expand deposit insurance limits
Fintechs Canada is calling on the federal government to significantly expand deposit insurance coverage, warning that the current framework undermines competition by favouring the country’s largest banks. In its submission to Finance Canada’s consultation on modernizing the deposit insurance system, the association recommended raising coverage limits to $250,000 per category for retail depositors and $500,000 […]
Ontario should advocate for the expansion of open banking to all investment accounts and for stablecoin regulations, says Fintechs Canada
In its submission to the Ontario government’s 2025 Budget consultations, Fintechs Canada calls on the Ontario government to advocate for the extension of open banking requirements to all investment accounts and securities registrants and work with the federal government to develop a coordinated regulatory framework for fiat-backed stablecoins.
Fintechs Canada responds to the 2024 federal fall economic statement
Following the release of the 2024 fall economic statement, Fintechs Canada today expressed concern that the federal government’s continued focus on high-visibility announcements has not yet been matched with measurable follow-up action that benefits Canadian consumers and small businesses. “This government’s approach to making banks work better for Canadians is mostly talk and little action. […]
Regulate fiat-backed stablecoins like payment services, says Fintechs Canada
Fintechs Canada responds to the government’s consultation on potential approaches for regulating stablecoin arrangements in Canada.
Fintechs Canada responds to the government’s proposals to strengthen Canada’s financial sector
Fintechs Canada responded to the government’s proposals to strengthen Canada’s financial sector. The proposals outline initiatives under five key themes, including supporting a competitive market structure, enhancing consumer protections, modernizing the financial sector framework, adapting to geopolitical risks, and upholding world-class regulation. In their response, Fintechs Canada focuses on addressing questions related to supporting a […]