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All PC Financial mortgages, loans, investments, and bank accounts were transferred to CIBC's new direct banking brand Simplii Financial effective November 1, 2017. [7] PC Financial's credit card and insurance products were unaffected by the decision, and continued to be offered by subsidiaries of Loblaw Companies. [8]
Standard Mastercard benefits. The Mastercard Standard tier credit card is the lowest tier available, but it still comes with some perks, including purchase protection and identity theft protection.
By 2010, PC Financial had 2.5 million customers and $20 billion in managed funds. PC continued to add new products and lines. In 2001, PC Organics was introduced as a third-party certified line of organic food products, in accordance with the guidelines of the National Standard of Canada on Organic Agriculture.
In 1996, four million merchants sued Mastercard in federal court for making them accept debit cards if they wanted to accept credit cards and dramatically increasing credit card swipe fees. This case was settled with a multibillion-dollar payment in 2003. This was the largest antitrust award in history. [34]
Simplii Financial is a Canadian direct bank and the digital banking division of the Canadian Imperial Bank of Commerce (CIBC). It offers no-fee chequing and savings accounts, a VISA credit card, Guaranteed Investment Certificates (GICs), mortgages and mutual funds.
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