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Canada’s big banks treat Indigenous, visible minority customers unequally: watchdog –

Pressure sales tactics. Ill-fitted suggestions. Misleading information.

Visible minority and Indigenous customers at Canada’s big banks more often received inappropriate treatment from sales staff, part of a wider trend of “concerning” interactions between those institutions and shoppers, a federal consumer watchdog has found.

In a mystery shopping review conducted in 2019 by the Financial Consumer Agency of Canada, customers who identified as a visible minority or Indigenous person more frequently encountered recommendations that were less simple and unsuitable to their financial circumstances compared with shoppers who did not identify as such.

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