The Conservatives are looking to change this, permit the big banks in Canada to merge. Already one of the most profitable banks in the world, the banks want to team up, become bigger and that of course will mean fewer banks over all. It will mean fewer branches, fewer choices and guess what, the bank mergers will be financed with our service fees.
"Harper called this week for action on bank mergers. "I don't think banks should be in the dark forever," he said.
And Alberta MP and Tory finance critic Monte Solberg, mooted along with Ontario's Jim Flaherty as the likely finance minister in a Harper cabinet, pointed out earlier this month that Martin himself said the merger issue must be resolved in the next parliament.
While the optics of bank mergers still work against government encouragement of Big Five combinations, the Tories have opened the door to the prospect by calling for a "public interest" test on the implications, to be conducted by an independent body." Toronto Star January 21, 2006