One of the most valuable services a bank can provide is the ability to protect its customers’ privacy. Canada’s banks have recognized this from the beginning and are leaders in keeping their customers’ personal information accurate, confidential, private and secure.
The banking industry was the first to go beyond a statement of principles and develop a comprehensive privacy code of conduct in 1986. The CBA’s code was updated regularly to meet the changing needs of consumers. The values in this code are now reflected in the federal government’s Personal Information Protection and Electronic Documents Act, which came into effect January 1, 2001. As of January 1, 2004, it governs the activity of all businesses and federally regulated industries — including airlines, banks, broadcasters and telecommunications companies — in how they collect, use, disclose, safeguard and provide access to their customers’ personal information.
Prior to January 2001, banks conducted a thorough review of their operations to ensure they complied with the Act and designated a senior officer responsible for upholding its rules. Most bank customers have noticed little change, as the Act’s guiding principles and most requirements are the same as the voluntary standards banks have followed for many years.
If you would like to learn more about privacy and your bank visit your bank's website:
For more information on The Personal Information Protection and Electronic Documents Act, contact:
Privacy Commissioner of Canada
30 Victoria Street
Phone (613) 995-8210
Fax (819) 994-5424