Could Canadian Mergers Mark The Return of Foreign Banks To Canada?
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TORONTO--The proposed link-ups between Bank of Montreal/Royal Bank of Canada and Toronto Dominion Bank/Canadian Imperial Bank of Commerce, were criticized in a report published last week by a Canadian Liberal government caucus. The document argues the proposals are not in the interests of consumers, small businesses or the Canadian financial system, but stops short of ruling out the mergers altogether.
The report contrasts with another Canadian study, the Mackay Taskforce Report (published in
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