If the exam was on financial literacy, the feds' grade would be an 'F.'.That's because Blacklock's Reporter says a federal agency paid a pollster almost $47,000 to interview just 49 people on financial literacy, records show..“Strengthening the financial literacy of Canadians is a key pillar of the Financial Consumer Agency of Canada’s (FCA) consumer protection mandate,” wrote researchers..“Canadians face an increasingly complex digital marketplace.”.The FCA, responsible for enforcing Bank Act regulations, paid Léger Marketing Inc. $46,637 to interview 49 Canadians on financial literacy themes..“Participants were asked how much time they typically spend in a month on their household’s finances, including activities such as paying bills,” wrote researchers..“It is important that Canadians build financial confidence.". “It is more important than ever that Canadians have the knowledge, skills and confidence to make informed decisions about their personal finances.”.“Understanding the basics about money is as essential today as numeracy and basic literacy. Financial literacy is important not only for the financial well-being of individuals but also for the economy.”.The Agency in 2014 appointed a “financial literacy leader” at $127,000 per year..“Financial literacy is a compliment to a strong regulatory framework,” staff said at the time..The Consumers Association of Canada described the work as patronizing..“Sixty-seven percent of Canadians pay off their credit cards every month,” Bruce Cran, association president, said in an earlier interview..“I don’t think there is any evidence Canadians cannot handle their own finances.”.“We see these programs as fashionable. It’s been years since we even had a voice in Cabinet.”.The federal government in 1995 disbanded the Department of Consumer Affairs as an austerity measure..The “literacy leader” in 2018 admitted a financial error in issuing a guide that claimed Canadians needed a bank account to cash a tax refund cheque. There is no such requirement under the Bank Act.
If the exam was on financial literacy, the feds' grade would be an 'F.'.That's because Blacklock's Reporter says a federal agency paid a pollster almost $47,000 to interview just 49 people on financial literacy, records show..“Strengthening the financial literacy of Canadians is a key pillar of the Financial Consumer Agency of Canada’s (FCA) consumer protection mandate,” wrote researchers..“Canadians face an increasingly complex digital marketplace.”.The FCA, responsible for enforcing Bank Act regulations, paid Léger Marketing Inc. $46,637 to interview 49 Canadians on financial literacy themes..“Participants were asked how much time they typically spend in a month on their household’s finances, including activities such as paying bills,” wrote researchers..“It is important that Canadians build financial confidence.". “It is more important than ever that Canadians have the knowledge, skills and confidence to make informed decisions about their personal finances.”.“Understanding the basics about money is as essential today as numeracy and basic literacy. Financial literacy is important not only for the financial well-being of individuals but also for the economy.”.The Agency in 2014 appointed a “financial literacy leader” at $127,000 per year..“Financial literacy is a compliment to a strong regulatory framework,” staff said at the time..The Consumers Association of Canada described the work as patronizing..“Sixty-seven percent of Canadians pay off their credit cards every month,” Bruce Cran, association president, said in an earlier interview..“I don’t think there is any evidence Canadians cannot handle their own finances.”.“We see these programs as fashionable. It’s been years since we even had a voice in Cabinet.”.The federal government in 1995 disbanded the Department of Consumer Affairs as an austerity measure..The “literacy leader” in 2018 admitted a financial error in issuing a guide that claimed Canadians needed a bank account to cash a tax refund cheque. There is no such requirement under the Bank Act.
