Bank changes blasted

  • Aug. 11, 2017 6:01 a.m.

Residents are expressing concerns about Canada’s banking ssystem.

Mel Arnold, North Okanagan-Shuswap MP, held a town hall forum in Vernon Wednesday to discuss changes to federal regulations governing mortgages, taxes and credit unions.

“The input we received will help us in our work in Ottawa as we stand up against these regulations and tax grabs that hurt Canadians,” he said.

The Liberal government has introduced new mortgage regulations and town hall attendees described how these changes have made mortgage qualification more difficult for first-time homebuyers.

“Trudeau’s new mortgage regulations have failed to deliver the intended effect in the Toronto and Vancouver housing markets while pushing home ownership out of reach for many Canadians,” said Arnold.

There is also a concern that the changes will prohibit credit unions from using the term banking in their advertising and operations, creating a new expense for credit unions.

Just Posted

Vernon one of Canada’s most dangerous places

Penticton, Kamloops, Kelowna, Lake Country and Salmon Arm also make Maclean’s list

Traci Genereaux: Gone, but not forgotten

COLUMN: Family, friends want justice for Vernon teen

Sagmoen’s court case adjourned again

Curtis Sagmoen will appear back in court on Dec. 14

Woman extricated after single-vehicle crash

Incident took place on Foothill Road in Salmon Arm.

Uber official says public needs to push for ridesharing in B.C.

Mike van Hemmen tells Kelowna Chamber of commerce ridesharing would be ‘win-win-win’

Okanagan ski hills open for the season

Both Big White and Silverstar Resort open for the 2017-18 season Thursday

Four years for discharging shotgun in home, school break-in

Yvon Martel also threatened his wife and broke into an elementary school

An adopted cat is the best 10 pounds you’ll gain this season

BC SPCA encouraging families to add a forever feline friend during adoption event Nov. 24 to Dec. 3

Up close and personal roots performance on Vernon stage

The Vernon and District Performing Arts Centre Society presents William Prince Nov. 29-30

B.C. co-ops relieved with Ottawa’s housing strategy

Federal government to have a new co-operative housing funding model in place by 2020

Letter to the editor: Missing woman’s parents appreciate search effort

To take part in the banner drop, poster distribution and the drone… Continue reading

Investigating effects of wildfires on business

Thompson Okanagan Regional District researching what help is needed after 2017 wildfire season.

Mayor’s column: Be silent no more

Please join us on Dec. 6 at the Salmon Arm Campus of… Continue reading

Column: On stars and sleighs

In the immortal words of Elvis, my hands were shaking and my… Continue reading

Most Read