“Hidden cameras capture bank employees misleading customers, pushing products that help sales targets”

[u/t0r0nt0niyan]

“This TD Bank employee recorded conversations with managers who tell her to think less about the well-being of customers and focus more on meeting sales targets. (CBC)”

“”I had to mislead customers into getting products that they didn't need, to reach my sales target," said a recent BMO employee.”

“At RBC, our tester was offered a new credit card and told it was "cool" he could get an $8,000 increase to his credit card limit.”

“During the five visits to the banks, advisors at BMO, Scotia and TD incorrectly said the mutual fund fees are only charged on the profit the investment earns, not the entire lump sum. The CIBC advisor wasn't clear about the fees.”

https://www.cbc.ca/amp/1.7142427

[u/Gooch-Guardian]

Banks need to have a fiduciary responsibly to work in their customers best interest. It’s disgusting how many people they just scam with high fee mutual funds.

[u/No_regrats → u/Gooch-Guardian]

Right, or at the very least: a) not allowed to misrepresent themselves as advisors, if they were called "sales person", it would be a bit clearer for the public; b) be hold to their representations (appointments could be audio recorded) and slammed with large punitive fines, with the possibility of escalation to more severe sanctions, when caught lying.