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Voluntary Codes of Conduct and Public Commitments Disclosure


 

Voluntary Codes of Conduct and Public Commitments are non-legislated commitments by the Canadian banking industry, associations, and other organizations to influence or control behavior to protect customers and serve them better.

As the Bank of China (Canada) (the “Bank” and “BOCC”) has committed to protecting the Bank’s customers, the Bank has adopted a number of “Voluntary Codes of Conduct and Public Commitments". The following guidelines and commitments establish the standards you can expect when you do banking with BOCC.

  • Code of Conduct for the Credit and Debit Card Industry in Canada (2010, updated 2015)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20150413_creditdebitcode_en.pdf)

This code of conduct sets the principles for banking and other business practices related to the issuance and acceptance of payment cards and operation of payment card networks.

  • Canadian Code of Practice for Consumer Debit Card Services (1992, revised 2004)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20090000_cdncodepracticeconsumerdebitcardservices_en.pdf)

This code of conduct lists out the industry practices and consumer and industry responsibilities related to debit cards.

  • Code of Conduct for Federally Regulated Financial Institutions -- Mortgage Prepayment Information (2012)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20120304_mopp_en.pdf)

This code of conduct provides information to customers to help them make an informed decision about their mortgage prepayment.

  • Principles of Consumer Protection for Electronic Commerce: A Canadian Framework (1999)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20090000_consumerprotectionelectroniccommerce_en.pdf)

This principle provides information to protect customers in online transactions, developed with input from industry, government and consumer groups.

  • Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses (1994)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20090403_bankrelationssmes_en.pdf)

This code of conduct provides information for bank dealings with small- and medium-sized businesses. The Four key individual bank codes are openness, accountability, credit process and complaint handling with small and medium sized business.

  • Commitment to Provide Information on Mortgage Security (2014)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol-mortgage-security-en.pdf)

A commitment to provide comparative information to customers looking for a mortgage loan to help them choose the mortgage product that best suits their needs.

  • Commitment on Powers of Attorney and Joint Deposit Accounts (2014)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol-poa-joint-account-en.pdf)

A commitment to provide certain information to customers to help them understand the implications of setting Powers of Attorney or opening joint deposit accounts for clients

  • Commitment on the Expansion of Low-cost and No-Cost Bank Accounts (2014)

(https://www.fin.gc.ca/n14/14-073-eng.asp)

A commitment to provide information about low-cost and no-cost bank accounts to customers who are eligible to open those accounts. The Bank of China (Canada) is currently offering No-cost chequing account to eligible customers. Please visit your local BOCC branch for more information.

  • Commitment on Modification or Replacement of Existing Products or Services (2012)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20120801_morps_en.pdf)

A commitment to provide customers with assurances related to the modification or replacement of existing products and services.

  • Online Payments (2005)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20090000_onlinepayments_en.pdf)

A commitment outlines the responsibilities of industry members for online payment systems

  • Guidelines for Transfers of Registered Plans (1992, revised 2022)

(https://cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/new-vol_20090000b_guidelinesfortransfersofplans_en.pdf)

A guideline provides information to customers on transferring a registered savings plan (RSP) between financial institutions.

  • Plain Language Mortgage Documents — CBA Commitment (2000)

(https://www.cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol_20040929_plainlanguagemortgagedocument_en.pdf)

A commitment by Canada's banks to disclose residential mortgage documents in clear and plain language.

  • Code of Conduct for the Delivery of Banking Services to Seniors (2019)

(https://cba.ca/Assets/CBA/Documents/Files/Article%20Category/PDF/vol-seniors-en.pdf)

This code of conduct sets out principles that apply to banks to guide them when they deliver banking products and services to Canada's seniors.

Contact Information

If you have any concerns about the Bank’s adherence to the Voluntary Codes of Conduct and Public Commitments or wish to make a complaint, feel free to contact directly the offices of the Financial Consumer Agency of Canada (“FCAC”) by telephone at 1-866-461-3222, by e-mail at info@fcac-acfc.gc.ca, or by visiting the FCAC website at http://www.fcac-acfc.gc.ca

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