Let people safely share their own bank data with a service they choose. Make it easier to switch.
Our planUpdated:
Our argument
Your bank data should work for you. With your clear consent, you should be able to use it to seek a better deal. A switch should not mean handing a new firm your bank password.
What must change
Let people safely share their own bank data with a service they choose. Make it easier to switch.
What a win looks like
A safe, simple way to move, with clear consent and a way to stop sharing.
Public cost
We have not yet priced this ask for the public purse. Any public aid must be priced before we seek funds for it.
Canada’s Competition Bureau began a study of small-business loans on 12 January 2026.
Limits: The study looks in part at term loans. These are loans paid back over a set time. Starting a study is not proof of wrongdoing. This record states when the study began. It does not say what stage it is at now.
The Bank of Canada describes a plan for people to share their own bank data.
Limits: The page includes proposed rules. It does not prove the full service is live. Sharing data does not by itself move an account or all its payments.