Demand Canada's Big 5 Banks to act to save Small Businesses from collapse

Demand Canada's Big 5 Banks to act to save Small Businesses from collapse

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Dan Butkovich started this petition to RBC and

As of today, Canada’s Big 5 banks, RBC, TD, Scotia, BMO and CIBC have done little to nothing to support the SMEs who are failing by the thousands across the country. The "Mortgage Relief" offered amounts to no more than a deferral of the principal (and only because the Government has agreed to secure the principal). Banks are still collecting interest and will, in fact, be PROFITING from clients who are in desperate need of a break at this time.

During the 2008/2009 financial crisis the banks received $114 Billion in taxpayer funds to bail them out, yet when the people who propped them up are in need assistance what are we being offered? Actually… nothing!

For businesses, banks are only offering what the Government is willing to back. For individuals? Low interest credit cards, loans way above prime and just more offers which will only saddle us with more debt.

Why is the Federal Government not forcing these companies to act to ensure the Canadian economy can recover as quickly as possible while protecting the thousands of mom and pop businesses who are the reason for their record profits and dividends quarter after quarter?

We are shocked that there isn't one CEO from any of these corporations who sees the value (not to mention future profits) in ensuring as many SMEs survive as possible and not let them become a figure on a balance sheet to be written off at the end of the year?

While many people are trying to decide on whether on not to put food on the table or pay their mortgage or rent we are still being forced to pay fees and interest to some of the richest companies in the world! Surely RBC, TD, Scotia, BMO and CIBC are better able to whether this financially than the SMEs who currently have little to no revenues?

We demand immediate relief, REAL relief from our financial institutions! We demand a chance to assist in the rebuilding of the Canadian economy by allowing our small businesses an opportunity to survive and recover. We demand for FULL mortgage relief and for the suspension of all interest and fees for business banking services.

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