Bank Act review officially over, IBAC thanks Parliament

Its official: The 2005-07 Bank Act review has finally been laid to rest.

The Insurance Brokers Association of Canada (IBAC) on Apr. 2 applauded the Parliament of Canada for passing bill C-37 in late March.

As passed, the bill does not give banks the power to retail or provide information about insurance products and services through their retail branches. Banks had asked for such powers during the consultation period leading up to the passage of the bill.