AI & Lending

Finance Canada pre-published the proposed Consumer-Driven Banking Regulations in the Canada Gazette, opening a 60-day public comment period that closes August 26. The Regulations operationalize the Consumer-Driven Banking Act, which received Royal Assent in March, and represent the first concrete operational rulebook under the framework Canadians have been waiting for since 2019. The same day, proposed amendments to the Financial Consumer Protection Framework Regulations were pre-published for a 30-day comment period, operationalizing the Bank Act anti-fraud amendments from Bill C-15.

When Canada's banking regulator starts publishing a bulletin called "The Ledger" with its own ISSN number, you know things are getting serious. OSFI's first issue, released January 19, 2026, marks the official starting gun for the implementation phase of the Data Collection Modernization initiative. And while "data collection modernization" ranks somewhere between "drainage infrastructure" and "HVAC maintenance" on the excitement scale, the implications for Canadian banking are genuinely transformative.

The Competition Bureau just told Canadians they're leaving billions on the table because moving their data feels like moving apartments. And honestly? They're not wrong.

The 2022 National Conference for Canada’s Credit Unions (CCUA) event was a must-attend for anyone operating in the credit union space. Our industry is rapidly changing and we must all be prepared to educate ourselves on the state of the market, technology, and industry best practices.