Banks & Banking Law
The law of Banking applies
to financial institutions and consumers of debt financing.
Clients are typically:
- domestic and foreign banks,
- bank holding companies,
- leasing companies,
- finance companies,
- other financial institutions,
- corporate,
- government,
- institutional,
- individual and financial,
- trustees in bankruptcy,
- receivers,
- borrowers when dealing with
lenders or credit granters.
What
Banking Law Encompasses
- incorporation of banks;
- all manner of corporate
and private lending,
- financing and refinancing;
- cross-border and international
banking transactions;
- financial leasing;
- loans;
- electronic banking,
- regulatory and corporate
governance,
- commercial and real estate
lending,
- consumer lending,
- agricultural lending,
- construction financing,
- inventory financing by suppliers,
- securitization transactions,
- lending to aboriginal groups,
- security documentation and
registrations,
- mortgage foreclosure,
- debt and loan restructuring
and work outs,
- loan recovery and enforcement.,
- loan security,
- insolvency.
In Canada, the federal government
has the exclusive constitutional power to legislate with respect to banks.
Personal
Property Security Acts
Personal
Property Security Acts
(PPSA) are registries set up in certain provinces (Ontario, New Brunswick,
Nova Scotia, Saskatchewan, British Columbia, Newfoundland, Northwest Territories,
Manitoba and Yukon), at which secured creditors register the security
interest the have in assets of the company or person they lent money to.
Registration serves
as a public notice that the interest exists against the collateral.
PPSA's do not provide
for registration of all secured assets. For example, the BC registry does
not accept builders or warehousemen liens, judgments, real property mortgages,
or motor vehicle ownership.
Federal
PPSA
BC
PPSA
Manitoba
Personal Property Registry
NB
Personal Property Registry
Newfoundland
PPSA
NS
Personal Property Registry
Northwest
Territories PPSA
Ontario
Personal Property Registry
Ontario
PPSA
Saskatchewan
PPSA
Links
to more Information
Have a question or complaint?
Call 1-866-461-3222 or e-mail the Financial Consumer Agency of Canada If you believe that a financial institution has breached a consumer law.
We can no longer recommend using the services of the Banking Ombudsman. Their power has been severly curtailed. Please refer to this blog.
Bank
Act |
