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Encyclopedia > Financial Consumer Agency of Canada

The Financial Consumer Agency of Canada (FCAC) is an agency of the Government of Canada. System of government Canada is a constitutional monarchy as a Commonwealth Realm (see Monarchy in Canada) with a federal system of parliamentary government, and strong democratic traditions. ...

Created in 2001, the Agency works to protect and educate consumers in the area of financial services. FCAC provides consumer information and oversees financial institutions to ensure that they comply with federal consumer protection measures. FCAC is headed by a Commissioner, appointed for a five-year term. The current Commissioner is William G. Knight, a former Member of Parliament from Saskatchewan.[1] 2001: A Space Odyssey. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... A Member of Parliament, or MP, is a representative elected by the voters of an electoral district to a parliament; in the Westminster system, specifically to the lower house. ... Motto: Multis E Gentibus Vires (Latin: From many peoples, strength) Official languages English Flower Western Red Lily Capital Regina Largest city Saskatoon Lieutenant-Governor Gordon Barnhart Premier Lorne Calvert (NDP) Parliamentary representation  - House seat  - Senate seats 14 6 Area Total  - Land  - Water    (% of total)  Ranked 7th 651,036 km² 591...

Under its enforcement mandate, the Agency investigates cases non-compliance with consumer protection measures in Canadian legislation. FCAC identifies potential cases using consumer complaints handled through its toll-free contact line, as well as through the inquiries and investigations of its officers. The Agency's Commissioner can impose a variety of penalties on institutions found to be in violation of consumer measures, including monetary penalties and public naming of the institution.[2]

FCAC's Commissioner reports to Parliament annually with his assessment of federally regulated institutions' compliance with legislation. States currently utilizing parliamentary systems are denoted in orange and red—the former being constitutional monarchies where authority is vested in a parliament, and the latter being parliamentary republics whose parliaments are effectively supreme over a separate head of state. ...

Under its consumer education mandate, FCAC publishes a number of guides on financial consumer issues. These publications are available through its website. The Agency's website also features interactive versions of several of its publications, including tools that allow consumers to find credit cards and banking packages that suit their needs, from among those available in Canada.

External Links

  • Offical Website



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