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Canada's big 5 banks are an oligopoly
Rounding it up
Canada’s banking system is an oligopoly, where the Big 5 operate in collaboration to dominate the industry.
This helps them get away with implementing unfair increases to account and service fees to maximize their own profits.
Low and moderate-income communities are continuously and disproportionately harmed by this system.
We can combat this structure by making informed banking decisions, putting media pressure on the Big 5, and opting for fairer financial alternatives.
Sukaina Jamil
Sukaina Jamil is a freelance writer and communications specialist. She has previously written and worked for The Book and Periodical Council, Review of Journalism and Kaleidoscope.
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