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In Ontario, distrust in banks was more common among consumers with high financial vulnerability (35%) compared to consumers with no financial vulnerability (17%).

Fewer than 10% of Canadians reported using a Buy-Now-Pay-Later service during 2021. Among them, about 10% found it difficult to understand their payment schedule.

In 2023, about 5% of Canadians reported that they could not access digital financial tools or resources.

43% of Canadians considered their primary financial institution helpful to their financial wellness.

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In Ontario, few consumers who report experiencing issues make a formal complaint. Among those who chose not to complain, many did not believe complaining would make a difference.

In Ontario, 48% of mortgage brokerage users and 59% of health and life insurance users indicated they did not know their rights and protections related to these financial products.

In Ontario, 1 in 10 consumers reported being offered a product with unreasonable terms, suggesting credit history, income/savings, and age were the main reasons for such offers. Credit cards and insurance products were those most commonly identified.

In Ontario, 1 in 3 consumers (33%) reported experiencing an issue with financial service providers; poor customer service was the most common issue reported (16%).

In Ontario, nearly 1 in 6 consumers (15%) reported being refused a financial product or service, with credit history, income, and savings being the most cited reasons for the refusal. Credit products were the financial product most commonly refused.