The claim alleges the banks suppressed the CDOR by making artificially lower interest rate submissions
Canada's Big Six banks seek new ways to embrace technology - including working with fintech firms and incorporating AI into banking services
The revised requirements for banks will begin to be phased in during the second quarter
Consumers prefer to receive new services from their existing bank, but are open to changing firms to gain better service and more value
The lower corporate rate is expected to have a postitive effect on banks’ future earnings
The Toronto-based firm uses AI in its platform to analyze various forms of data to learn and anticipate an individual customer’s needs
But a lower corporate tax rate will have a positive effect on future earnings, the bank says
The specialty finance firm will become part of CIBC Innovation Banking
U.S. regulators propose new risk management guidance for banks
The federal agency announced the review in March