Teamsters Canada supports the Canadian Labour Congress’s campaign to get the big banks to lower credit card interest rates during this crisis. Some of them have already announced changes, but their reductions only target small segments of the people in need. We need to keep up the pressure.
The COVID-19 pandemic has led to widespread anxiety among Canadians about their health and economic security.
Our country is on a virtual lockdown. Non-essential businesses are closed for the foreseeable future. Millions of Canadians have lost their incomes or wages.
Families are struggling to pay rent, the mortgage, monthly bills, put food on the table, and get the medications they need. They’ve got no choice but to turn to their credit cards to pay for basic needs.
The Bank of Canada has just reduced its lending rate to the big banks to a historically low level. The government and Canadians expected this to lead to debt relief for average people.
Yet the banks and credit card companies refuse to pass these savings onto Canadian families.
The big banks and credit card companies need to do their part to help Canadian families and support our economy in these difficult times.
Join us and tell the big banks and credit card companies to stop gouging Canadians and lower the interest rates on credit cards – now.
Here’s how you can help: