The Federal Government has just released new regulations in draft form which are intended to implement recent amendments to the Bank Act pursuant to which new or existing credit unions could come under the Bank Act and continue as federal credit unions, thereby retaining the essential characteristics of a credit union but at the same time, gaining the benefits of being under the Bank Act.
To read the full Osler Update by Stephen D.A. Clark, Kashif Zaman and Victoria Graham, click on this link.