ACORN’s submission - ACORN Canada is a national community union of low- and moderate-income people with 24

Many ACORN members are forced to rely on predatory lenders in times of financial crisis and to meet day to day expenses in the absence of fair credit options. [...] ACORN would like to take this opportunity to respond to the consultation on how the legislative and policy framework should adapt to help address the challenges Canadians face in accessing financial services. [...] Recognizing the need to provide banking access for all people in Canada and then providing a product that is so limited and for lack of a better word, crappy, is discriminatory! o Make transactions unlimited. [...] Simplii Financial of CIBC and Tangerine of Scotiabank offer no-cost accounts but most of the services available through these are digital, therefore curtailing their access to populations that do not have the internet or face barriers to access technology. [...] • It is important to mention that the findings are based on a survey that ACORN conducted to its members who are low- and moderate-income people.