Canada's Big Five Banks are an Oligopoly

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Canada's big 5 banks are an oligopoly

Rounding it up

  • Canada’s banking system is an oligopoly, where the Big 5 operate in collaboration to dominate the industry.

  • This helps them get away with implementing unfair increases to account and service fees to maximize their own profits.

  • Low and moderate-income communities are continuously and disproportionately harmed by this system.

  • We can combat this structure by making informed banking decisions, putting media pressure on the Big 5, and opting for fairer banking alternatives.

5 min read

Sukaina Jamil
#banks#big 5#bank fees#oligopoly

Sukaina Jamil

Sukaina Jamil is a freelance writer and communications specialist. She has previously written and worked for The Book and Periodical Council, Review of Journalism and Kaleidoscope.

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