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Against the odds: Why customers often lose in battles with banks
Complaint system wears people down and usually rejects claim, consumer advocate says

Marchitelli, Rosa
http://www.cbc.ca/news/business/banking-deposits-lost-customers-1.4525060

Publisher:  CBC News
Date Written:  11/02/2018
Year Published:  2018  
Resource Type:  Article

Banking customers with complaints about lost deposits face significant obstacles, with those looking for help dealing with a complaints system that is designed to wear people down and usually siding in favour of the banks.

Abstract: 
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Excerpt:

In every province except Quebec, banks are allowed to disclaim liability for losing money, according to John Lawford, executive director at the Public Interest Advocacy Centre.

So if a bank takes a deposit and loses the cheque, he says, its agreement with the customer often states it is not liable for losses.

"Which is quite shocking from a consumer point of view," Lawford says.

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