OSFI confirms investigation into Big Six bank sales practices underway

Canada’s banking regulator is reviewing sales practices at the country’s six largest banks, focusing on the risks such tactics could pose to banks’ reputations and financial health.

The Office of the Superintendent of Financial Institutions (OSFI) confirmed its review this week, saying it is “concurrent” with a probe already under way at a consumer watchdog tasked with overseeing Canadian banks.

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