Case Studies - Banking
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Late disclosure of higher mortgage insurance premium leads to added costs for homebuyers and low settlement Mr. and Ms. D wanted to purchase a home and applied for a mortgage. Because their down payment was less than 20% of the purchase price, the mortgage was required to be insured under Canadian mortgage rules, and the bank arranged mortgage insurance as part of the financing.
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Missing delivery leads to credit card chargeback dispute Mr. D used a credit card issued by Bank A to pay for online purchases from a Chinese e‑commerce platform in June 2025. The seller provided Mr. D with a tracking number shortly after the purchase. However, the tracking information never showed any shipping activity beyond its initial creation. The estimated delivery date passed without the goods being delivered. Mr. D attempted to resolve the issue by contacting the seller through the platform, but the seller did not provide a meaningful response. Mr. D did not receive a refund or a replacement.
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Missed payments result in increased interest costs for consumer after balance transfer Ms. J held a credit card with her bank for several years when she learned of a promotional offer that allowed customers to transfer balances from other credit cards to her bank’s credit card at a 0% interest rate for 12 months. She called the bank to ask about this offer and the bank confirmed that it was still available, with a 3% balance transfer fee.
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Consumer challenges interest charges after accepting balance transfer promotion Ms. W was a smart credit card user, always making sure to pay off her balance in full each month. She used her cashback card for everything from travel expenses to groceries, and for cash advances. Her bank informed her of a promotional offer to transfer balances from other credit cards to her cashback card at a 0% interest rate for 12 months. This offer represented a significant savings from the usual interest rates of 20.99% on outstanding balances and 21.99% on cash advances.
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Consumer a victim of fraud but bank not responsible for loss Mr. E had a personal chequing and savings account at Bank Y. He enjoyed the convenience of online banking on his laptop and cell phone, and often accessed his bank accounts using Bank Y’s mobile application. Through e-mail, he received notifications from the bank about his account activity and liked being able to confirm account balances online. Mr. E had been a Bank Y customer for over 40 years.
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Bank customer questions significant fees charged to his business account Mr. G had been a loyal business customer of his bank for 30 years. He trusted the bank with his business’ financial matters, and they had always maintained a good relationship.
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Consumer is not responsible for bank’s technical issues Ms. Q returned to Canada from living abroad. To re-establish her credit history, she applied for and received a prepaid credit card, which held a cash balance and was widely accepted. She used this card to pay bills and make online purchases, such as groceries. The mobile app associated with Ms. Q’s prepaid credit card allowed her to easily add funds to her account, monitor her spending and review her monthly account statements online.
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Consumer surprised when bank gives him 30 days to close his account Mr. K arranged a meeting at a Canadian branch of ABC Bank, so he could open a personal chequing account. At the meeting, he provided the proper documentation and told the bank he would be traveling abroad. He also mentioned that a branch of ABC Bank was located where he was going, and he was relying on his new ABC bank account to transfer money back to Canada.
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Consumer pursues credit card refund for vacation cancelled due to COVID-19 Whenever you buy goods and services, especially for future delivery, be sure to pay careful attention to the terms and conditions of the purchase. Return and refund policies vary, so before you agree to buy, it’s important to understand what you will be entitled to if the goods are damaged, or the services are cancelled.
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Consumer responsible for unauthorized transactions after not taking enough care to protect his debit card and PIN If you have a debit card, you have agreed to use it subject to the obligations in the cardholder agreement you made with your bank when the card was issued.