COVID 19 Interest-Free Mortgage, Loans + Credit Card Deferrals from all major banks

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Most major Canadian banks have offered to allow their clients affected by COVID-19 to defer their mortgages, loans and credit cards without hurting their credit. HOWEVER, during the deferment period, all banks will continue to charge interest on all of these funding lending mechanisms, meaning that whenever people are next able to pay, they will have accrued potentially months and months of interest that they have not been making income to be able to pay back.

The average citizen should NOT be punished by the major banks with having to pay back interest during an unprecedented global crisis when their jobs have been cut or slashed for reasons beyond their control.

We demand that banks waive any interest accrued during the next few months and extended into the future as the COVID-19 crisis unfolds. Banks should not continue to profit off of citizens unable to pay due to this global crisis. It's unethical, inhumane and unnecessary. Deferment without being interest-free harms individuals, families and small businesses.