Across our country, Canadians are stepping up and making sacrifices to help each other during COVID-19.

But not Canada’s banks. New reports show they are actually profiting off of COVID-19 mortgage deferrals.[1] They’re still charging many people the same interest rates and bank fees even though millions of Canadians lost their jobs.

They’re profiting off of COVID-19 even after making $20 billion in profit in 2019 and receiving direct financial help from the government.[2]

Enough is enough. The banks won’t change so it’s time the government stepped in. We’re calling on the government to force banks to adopt the following policies during the pandemic:

• Waive interest and fees on credit card debts, ATM withdrawals, and other day-to-day banking fees during the crisis
• End profiteering on mortgage deferrals by cancelling interest payments
• Expand mortgage deferrals so others qualify
• Cancel or extend lower interest rates on loans and other banking services to cushion the impact of COVID-19

We’re all making sacrifices during COVID-19. It’s time the banks did the same. Will you sign the petition calling on the government to prevent banks from profiting off of the COVID-19 pandemic?