When are the banks going to step up?

 In Letters, Opinion

Editor:
I have spoken to several banks and researched rates and lending policies online, and it appears that Canadian big banks are only willing to defer principal payments. This actually adds to the profits of the banks and is paid for by us consumers. Here is how it works. Let’s say you defer principal payments for six months. You have just added six months to your payment schedule. We need the federal and provincial governments to legislate these greedy trillion-dollar monsters to actually participate in helping us to stay afloat during this unprecedented global disaster. How about a year with no interest? Come on banks we need your help now.
Fran Webster,
Websterville.

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