FORA - Electronic Funds Transfer Working Group

Description

The Electronic Funds Transfer Working Group includes stakeholders from consumer organizations, financial institutions, retailers, and federal and provincial governments. The working group developed the Canadian Code of Practice for Consumer Debit Card Services in 1992 and revised the code in 1996, 2002 and 2004. The code outlines industry practices and consumer and industry responsibilities which will help to protect consumers in their use of debit card services in Canada. The working group oversees the Code and conducts regular reviews to ensure the Code's relevance to technology and business practices.

Member organizations of the EFT Working Group are: Amicus Bank, Bank of Montreal, Bank of Nova Scotia, Canadian Bankers Association, Canadian Banking Ombudsman, Canadian Payments Association, CIBC, La Confédération de Caisses populaires et d’économie Desjardins, Credit Union Central of Canada, Financial Consumer Agency of Canada, Finance Canada, Industry Canada, Interac Association, Laurentian Bank, Option Consommateurs, Ministry of Government Services (Ontario), National Bank of Canada, President’s Choice, Public Interest Advocacy Centre, Retail Council of Canada, Royal Bank of Canada, Service d’aide au consommateur de Shawinigan, TD Canada Trust, York University/Consumers Association of Canada.

Related Papers and Links:

  1. Canadian Code of Practice for Consumer Debit Card Services
  2. EKOS Research Associates. 2002. Evaluation of Operations Related to the Canadian Code of Practice for Consumer Debit Card Services (PDF version, 322 KB, 40 pages)
  3. Finance Canada*. 2006. Financial Institutions Legislation Review: Proposals for an Effective and Efficient Financial Services Framwork.
*see the discussion on page 10 related to electronic transactions and the Code.

For information:

Office of Consumer Affairs
consumer.information@ic.gc.ca