Voluntary codes of conduct and public commitments.

Voluntary codes of conduct are non-legislated commitments that are voluntarily made by companies, associations and other organizations. The purpose is to influence or control behaviour for their benefit and their communities.

Voluntary codes and commitments address the needs of consumers, workers and the public, while helping companies remain competitive.

The banking industry has developed and is committed to several voluntary codes designed to protect consumers.

Voluntary codes of conduct.

Code of conduct for federally-regulated financial institutions – mortgage pre-payment information.


This code outlines the type of information consumers will receive to help them make an informed decision about the pre-payment of their mortgage.


Mortgage pre-payment information code


Canadian code of practice for consumer debit card services.


This code describes practices and responsibilities, which help to protect consumers who use debit card services.


Consumer debit card services code


Canadian Bankers Association.


Code of conduct for authorized insurance activities.


This code details the banking standards for branch employees selling credit, travel and personal accident insurance. It deals with training, disclosure, promotion practices, customer privacy protection and complaints procedures.


Insurance activities code (PDF, 164 KB)


Code of conduct for credit and debit card industry in Canada.


This code sets the principles for business practices on the issuance and acceptance of payment cards and operation of payment card networks.


Canadian credit and debit cards code


Code of conduct for the delivery of banking services to seniors.


This code defines the principles that apply to banks to guide them when delivering banking products and services to seniors.


The principles cover topics such as policies and procedures, effective communication, training and resources for employees and representatives.


Banking for seniors code (PDF, 324 KB)


Model code of conduct for bank relations with small and medium sized businesses.


The Canadian Bankers Association (CBA) developed a code of minimum standards for banks when dealing with small and medium sized businesses (SMB).


Relations with SMBs code (PDF, 233 KB)


Principles of consumer protection for electronic commerce: a Canadian framework.


These principles provide a framework for commerce over open networks, including the internet.


Protection for e-commerce (PDF, 160 KB)

Public commitments.

Canadian Bankers Association.


Commitment to provide information on mortgage security.


This public commitment outlines information banks must provide on the mortgage security they take when consumers borrow funds to purchase a home.


Mortgage security promise (PDF, 225 KB)


Commitment on powers of attorney and joint deposit accounts.


This public commitment sets out the minimum information about powers of attorney (POA) and joint deposit accounts banks must provide consumers who want to give someone else the authority to do banking for them.


POA and joint accounts (PDF, 197 KB)


Guidelines for the transfer of registered plans.


These guidelines define the maximum amount of time banks may need when transferring registered deposits between financial institutions.


Registered plans transfers (PDF, 184 KB)


Online payments.


This public commitment describes the practices and responsibilities of consumers and the industry when using online payments systems in Canada.


Online payments commitment (PDF, 213 KB)


Plain language mortgage documents.


This guide reflects the banking industry’s commitment to improving the understanding and readability of residential mortgage documents.


Plain language guide (PDF, 70 KB)


Commitment on modification or replacement of existing products or services.


This public commitment describes the procedures for banks to provide consumers with information on the modification or replacement of existing products and services.


Product change promise (PDF, 12 KB)


Low-cost and no-cost accounts.


Canadian banks are committed to providing low-cost and no-cost bank accounts.


This commitment aims to protect consumers and save Canadians money by making low-cost accounts available to any individual. It also offers no-cost accounts to youths, students, seniors who qualify for the Guaranteed Income Supplement, and Registered Disability Savings Plan beneficiaries.


Guidelines for low- and no-cost accounts


Fraud protection.


These commitments outline the liability to consumers when there are fraudulent transactions on their credit card or debit card.


Visa.


Visa’s commitment to fraud protection


Interac.


Interac’s commitment to fraud protection


Principal protected notes regulation.


This document covers Laurentian Bank’s public commitment to issue principal protected notes (PPNs) electronically or by phone.


Regulation of PPNs (PDF, 94 KB)

For more information, you can also find these voluntary codes of conduct and public commitments on the Canadian Bankers Association website.



Achieving customer satisfaction.


At Laurentian Bank, customer satisfaction is our top priority. That’s why we welcome your comments on our policies and service quality. We respond quickly when there’s a concern that needs our attention.


Ideally, problems should be resolved directly between the parties involved, but that’s not always possible.


For those situations, we’ve created the Quality Management and Compliance team to improve service quality, provide assistance to customers upon request and communicate, when necessary, with the required authorities.


Laurentian Bank is committed to several voluntary banking industry codes designed to protect consumers, and which describe the rights and responsibilities of the bank and our clients. These include the online payments code, the Canadian code of practice for consumer debit cards and the CBA code of conduct for authorized insurance activities.


Customer satisfaction (PDF, 53 KB)


Coercive tied selling.


At Laurentian Bank and our subsidiaries, we require our employees to fully comply with the law by staying clear of coercive tied selling.


Coercive tied selling (PDF, 164 KB)


Report wrongdoing and whistleblowing.


At Laurentian Bank, we’re committed to a culture of compliance where we uphold the highest standards of ethical conduct. That’s why we have a process to report wrongdoing.


Report wrongdoing