The maximum fine for failing to report suspicious mortgage activity just jumped from half a million to twenty million dollars. That is not a typo. Welcome to the new reality of Canadian mortgage lending compliance.
Somewhere right now, a Canadian with seven-figure digital assets is opening a bank account in Zurich. It's not tax evasion. It's impatience.
Canada just signalled it wants to become the financial nerve centre for Western defence spending. And if you're not paying attention, you're already behind.
The Bank of Canada just did something it hasn't done since August: absolutely nothing. And the mortgage industry should be relieved.
The Canadian banking landscape just lost another player. But in a plot development nobody saw coming, the last one standing just got a whole lot stronger.