C.D Howe made a suggestion that in order to help support and give a lending hand to minor lenders. Ottawa should consider new means of controlling the relevant factors to enable it to fully come to the aid of minor lenders.
His comments were included in a report done by John Jason which addresses the governing structural system meant for minor banks and also maybe the whole monetary division should be taken into consideration and be reassessed.
John also pointed out in a report titled: “Swimming with Whales: How to Encourage Competition for Small Banks,” that the small scale to medium scale domestic monetary organization controls only 2 per cent of the country’s banking assets and possessions. When likened with other major banks in Canada, they are in control of 93 per cent, while 54 per cent is taken care by the top three major ones.
The small lenders of Canada are worried and concerned about the need for more funds for FinTech, as well as the regulatory burdens they face while their larger rivals are not regulated; Jason also made mention of this in his report to highlight and pinpoint the main worries of the minor lenders in Canada.