TORONTO, NOVEMBER 5, 2025 – In a period marked by an elevated cost of living and global economic uncertainty, Peoples Group welcomes the Government of Canada’s 2025 federal budget. We commend the government’s commitments to increase competition and innovation in financial services, protect Canadians from financial scams through the development of a national anti-fraud strategy, and expand investments to build affordable housing at scale.

Fostering Competition and Innovation in Financial Services

Peoples Group supports the government’s efforts to unlock capital, strengthen competition in the banking sector, and foster an environment where smaller institutions can grow and consumers have greater choice. We also welcome initiatives to modernize regulations, ensuring Canada’s financial system remains agile and globally competitive.

We are encouraged by the government’s commitment to complete the Consumer-Driven Banking Act and reaffirm its plan to launch the Real-Time-Rail in 2026. We hope these measures move forward without further delay so Canadians can begin realizing their benefits.

As a long-standing partner to Canada’s fintech ecosystem, Peoples Group believes a focus on enhancing innovation and competition will improve outcomes for consumers. We stand ready to contribute our financial infrastructure, regulatory expertise, and experience in secure payments to help build a dynamic, trustworthy, and inclusive open banking environment.

Fraud Prevention

Peoples Group strongly supports the government’s efforts to combat financial fraud and strengthen consumer protection. Safeguarding Canadians’ financial well-being is a shared responsibility that depends on close collaboration between government and industry. By working together and aligning new measures with the realities of the financial sector, we can ensure that anti-fraud initiatives are both effective and practical, helping maintain trust and confidence in Canada’s financial system.

Affordable Housing

As a significant lender in the multi-family housing market, Peoples Group shares the government’s commitment to addressing housing affordability and expanding supply at scale. We remain focused on delivering innovative financing solutions that enable sustainable, community-focused development across the country.

While some recent decisions on allocation sharing risk hindering momentum around efficient distribution channels for housing investment, we look forward to working with our partners to drive impact on this file – at a time when bold collaboration is needed most.

We welcome continued federal action on this critical issue as we work together to bring more affordable housing options to Canadians. These initiatives represent meaningful progress toward a more secure and inclusive housing landscape for all.