Last week, CCUA prepared a submission to the Department of Finance's consultation on the proposed acquisition of Canadian Western Bank (CWB) by the National Bank of Canada (National Bank), which was announced on June 11, 2024. The Bank Act requires that all acquisitions and amalgamations in Canada's banking sector require the approval of the Minister of Finance. Feedback from this consultation will help inform the decision regarding the acquisition.  

CCUA believes that the proposed acquisition will negatively impact consumer choice, specifically in Alberta and British Columbia, where CWB has a strong regional presence. You can read the full submission here.