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Peoples Group operates as a trust company and also maintains a chartered bank subsidiary, Peoples Bank of Canada. It is a subsidiary of the Alberta-based holding company Triple Five Group and maintains offices in Vancouver, Montreal, Calgary, and Toronto.
For much of the 20th century, Canada's trust companies were controlled by the major banks through interlocking directorates. However, revisions to the Bank Act in 1967 forbade individuals from sitting on a bank and trust company board simultaneously; this had been a recommendation in the 1964 Report of the Royal Commission on Banking and ...
Peoples Bank of Canada: 2020 Vancouver: Owned by the trust company Peoples Group. President's Choice Bank: 1996 Toronto: Owned by company Loblaw Companies. All PC Financial mortgages, loans, investments, and bank accounts were transferred to CIBC's new direct banking brand Simplii Financial effective 1 November 2017.[7]
When Peoples Trust opened, its primary focus was on residential mortgages and guaranteed investments. Today, there are branches across Canada, and the bank offers several other services, including mortgages for care facilities and other commercial properties, and prepaid credit cards .
Bank of the People, a defunct bank in Upper Canada (now Ontario, Canada) La Banque du Peuple , a defunct bank in Lower Canada (now Quebec, Canada) Peoples Group , a financial services firm consisting of a trust company and direct bank
Canada Trust was a trust company that offered the same services as a bank. It was one of Canada's largest non-bank financial institutions , with $38 billion in deposits and $176 billion in assets. It had 11,000 employees and 3.5 million customers and operated a network of 413 branches across Canada; and almost 1,000 automated banking machines.
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The company partnered with Peoples Trust and Mastercard for its banking services [6] with the company providing all of the APIs and User Interfaces [clarification needed]. [ 7 ] Originally, funds deposited into a KOHO card were not insured by the Canada Deposit Insurance Corporation (CDIC) , and would be returned to account holders by Peoples ...