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ARTICLE · 18 JULY 2024

Fintech In Canada Q2 2024

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Canada's Consumer-Driven Banking Act (CDBA) has become law. It was enacted on June 20, 2024, when Bill C-69, the Budget Implementation Act, 2024 received royal assent.

GlobalTechnology
Matthew Flynn
Matthew Flynn
Simon Grant
Simon Grant
Kwang Lim
Kwang Lim
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Canada's Consumer-Driven Banking Act (CDBA) has become law. It was enacted on June 20, 2024, when Bill C-69, the Budget Implementation Act, 2024 received royal assent.

The second quarter of 2024 also saw:

  • the Bank of Canada lay out new retail payments supervision that will affect retail payments fintechs; and
  • the U.S. Securities and Exchange Commission close its investigation into Ethereum 2.0.

Open Banking: What New Consumer-Driven Banking Legislation Means for Fintechs in Canada

If your company is a fintech operating or hoping to operate in Canada with a business model that offers financial products, you should be aware that the CDBA could apply to your organization.

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