Banking changes to look out for in 2024 ...Middle East

The federal government approved RBC’s $13.5-billion takeover of HSBC Canada in the waning days of 2023, despite concerns from critics that it will stifle competition. Banking customers will start to see next year how the acquisition, expected to close in the first quarter, shakes out. Here’s a look at some of the other changes expected in Canadian banking in 2024: Open banking The federal government said in its fall economic statement that it would introduce legislation in its 2024 budget to establish an open banking framework. Open banking, or what the government calls ‘consumer-driven banking’, would make it easier for Canadians and small businesses to safely share their financial data

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Banking changes to look out for in 2024 ...Middle East

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