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Stock impact report

Debanked: Why some Canadians are losing their bank accounts without explanation [Globe and Mail, The (Toronto, Canada)]

Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS) 
Last bank nova scotia halifax pfd 3 ordinary shares earnings: 2/25 05:30 am Check Earnings Report
Skip to main content Debanked Canada's banks are increasingly closing accounts without explanation as they fight financial crime An unidentified Toronto-based entrepreneur from Nigeria says losing access to his bank accounts stunted his business. Your bank can cut you off and never tell you exactly why. A letter in the mail succinctly announces that all of your financial accounts will be shuttered. Usually, you have up to three months to make alternate arrangements. The official explanation, if there is one, is as ominous as it is vague: “Our decision is a result of the unacceptable risk that we have identified with regard to the operation of your accounts.” The consequences can be dire. You may have to rely on high-interest loans while you scramble to transfer your mortgage or lines of credit. If you have a business, you may have to explain to clients and creditors why you no longer have access to your bank account. Worse, once one financial institution has given you the Show less Read more
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