Digital bank project won't replace Canada's cash

Scotiabank filed a Form 6-K on October 16, 2026, confirming the validity of US$2.3 billion in senior notes. The notes, maturing between 2029 and 2032, have fixed-to-floating and floating-rate structures. Legal opinions from Allen Overy Shearman Sterling US LLP and Osler, Hoskin & Harcourt LLP support the notes' validity. The filing is part of Scotiabank's broader capital markets program.

The OCC found that nine major banks used subjective reputation policies, impacting lawful businesses, including digital assets. The report, based on extensive data, supports crypto industry claims of debanking but does not prove a coordinated government campaign. Banks reviewed include JPMorgan Chase, Bank of America, and Citibank.

The Office of the Comptroller of the Currency (OCC) released a report stating that nine major U.S. banks may have denied or limited services to customers based on political or religious beliefs. The banks reviewed include JPMorgan Chase, Bank of America, Citibank, Wells Fargo, U.S. Bank, Capital One, PNC, TD Bank, and BMO. The OCC found that these banks had risk policies lacking clear standards, potentially disadvantaging certain customers.

Toronto Dominion Bank (TD) and Bank of Montreal (BMO) were named in a U.S. regulator's report for policies that may have limited access to financial services based on political or religious beliefs. The OCC's report, following an executive order by President Trump, found that nine banks, including TD and BMO, had practices that could invite scrutiny of certain groups, such as firearms companies or pro-life organizations.

A federal review found that JPMorgan Chase's payment subsidiary WePay screened merchants for political and religious terms like 'MAGA' and 'America First' before reviewing accounts. The OCC's report examined nine major banks and their policies from 2020 to 2025. The CFPB has launched an investigation into potential violations of federal consumer financial laws by these banks.

The OCC's report names nine major banks, including JPMorgan Chase, Bank of America, and Citibank, for politically driven account closures. The review, spanning 2020-2025, found banks denied services to sectors like oil, firearms, and cryptocurrency. The OCC may refer cases to the attorney general, and a DOJ probe is ongoing. Banks defend their actions, while lawsuits from Trump-related entities are pending.