Diversify your banking relationships
Use multiple accounts to spread financial risk.
The system may fail you, but the law still protects you.
You have the right to challenge discriminatory treatment under Canadian law. You are not powerless. Knowing your rights is the first step toward protecting yourself — and holding institutions accountable.
Six Steps to Take If You’ve Been Derisked
1
Request a Written Explanation
Banks may not be legally required to give one, but it's important to ask. Keep a record of your request.
2
Obtain Your Financial Records
Request account history, flagged transactions, or internal notes if possible under data access laws.
3
File a Complaint
All major Canadian banks have complaint resolution systems.
4
Report to Federal Oversight Bodies
e.g. FCAC (Financial Consumer Agency of Canada), Human Rights Commissions, or privacy regulators
5
Contact a Legal Aid
List support organizations (e.g. NCCM, ICLMG, CAIR-CAN, etc.)
6
Contact Your Member of Parliament (MP)
Your elected representative can advocate on your behalf and raise awareness of your case at the federal level.
Know Your Rights
The Right to Ask Why
You can and should request a written explanation from the bank or financial institution
The Right to Access Financial Data
You have the right to request personal data held by financial institutions — including flagged activity or decision-making records.
The Right to File a Complaint
Every federally regulated bank must provide a complaint process. If unresolved, you can escalate to independent bodies like OBSI or ADR Chambers.
The Right to Privacy
Canada’s privacy laws (PIPEDA) protect you from misuse of your data. You can report concerns to the Office of the Privacy Commissioner.
The Right to Be Free from Discrimination
If you suspect profiling or bias, file a complaint under the Canadian Human Rights Act or with a provincial human rights commission.
The Right to Advocate
You have the right to share your experience, seek support, and join collective calls for reform. You are not alone.
What Not to Do
Do Not Stay Silent
Silence protects the institutions, not you. If you’ve been wronged, speak up, document everything, and seek support.
Do Not Close All Your Accounts Immediately
Don’t rush. Closing all accounts can erase important records. Take time to understand the situation before reacting.
Do Not Ignore Follow-Ups
If you’ve filed a complaint or requested records, follow up. Keep a log of all communications, names, and dates.
Do Not Share Sensitive Info Without Caution
If you go public or seek help, be mindful of what personal data or documents you share. Use secure platforms and trusted advocates.
Do Not Assume You're Alone
Many others have experienced similar financial exclusion. You are not alone — and you are not to blame.
Don’t Let It End There
Push for answers. Even if you're stonewalled, insisting on a response puts pressure on institutions and strengthens your case.