BUS2 531 Lecture Notes - Lecture 6: Payment, Payments Canada, Canada Deposit Insurance Corporation
23 Jan 2018
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The syllabus has been revised and updated by the prof: canadian payments act. * this is more about how the payment system works and operates. It establishes organization that governs payment systems 1980. Canada started have banks in the 18th and 19th century bills of exchange drawn on banks are cheques. We have a clearinghouse formed with the mailing clerks like the ones they have in europe (like in the barclay case). But these were private, there was no supervision by any government, but they needed rules for practices. 1970-80s: big change in the banking industry invention of credit card, use of computer rise of new electronic payments government felt the need to supervise this. This association plays a predominant role in canada. (a) creation, members and objects of cpa. 3 (1) a corporation is hereby established to be called the canadian payments association.
