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Government of Canada / Gouvernement du Canada

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Headline Details Only half of Canadians know there is a government agency to protect financial consumers.

Why is this important?

The Financial Consumer Agency of Canada (FCAC) is responsible for protecting the rights and interests of financial consumers in Canada. The Agency’s mandate is to supervise federally regulated financial entities such as banks, and to strengthen the financial literacy of Canadians.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.

Related priorities

This headline relates to the following National Financial Literacy Strategy priorities and target outcomes:  

Priority 6

Strengthen consumer protection measures

  • Target outcome 6.3
Related findings
Finding

Just over half of Canadians (55%) said they are aware the Government of Canada has a department or agency dedicated to protecting its financial consumers. Among the rest, approximately one-third (35%) did not know and 10% said no there is no such department or agency.

Initiative: Survey of Canadians' Use of Banking Products and Services

Adopter: Financial Consumer Agency of Canada

The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

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