Bank Mergers and the Public Interest


Susan Lott


Public Interest Advocacy Centre (PIAC)




This report looks at the rules and legislation that govern mergers of large Canadian banks from the consumer point of view and assesses how large bank mergers would likely affect consumers in relation to issues of access, choice and price of banking services. Large bank mergers are permitted in Canada, subject to a series of reviews, with final approval by the Minister of Finance, but none have been approved in recent years. The report outlines briefly the current rules and policies that govern large bank mergers. It then looks at why two large bank mergers were turned down in 1998 and whether the reasons given had changed by 2002. It looks briefly at bank merger experiences in other jurisdictions, outlines what the current financial services environment looks like for consumers, and then assesses how mergers might affect public interest issues of choice, access, and price in this context.

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OCA Funded Research
This research received funding support through the Office of Consumer Affairs' Contributions Program.

Contact information

Public Interest Advocacy Centre (PIAC)
285 McLeod Street, Suite 200
Ottawa, ON   K2P 1A1
(613) 562-4002
(613) 562-0007

Source: Consumer Policy Research Database

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