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JENNIFER WELLS Toronto Star You can put your ear to the jungle telegraph and hear not a peep from the country’s big banks on the big news out of Sears Canada Inc. The retailer, as we learned last week, is applying to Ottawa, via the Office of the Superintendent of Financial Institutions (OSFI), to establish a federally regulated bank, a decision that will ultimately wend its way to the minister of finance for final approval. The Sears Canada board met yesterday to pass a resolution to seek the federal charter. The company has already had one meeting with OSFI and … Continue reading Sears is banking on the future

Mar 10 2003: A recent report from Gartner indicates that 17 percent of Americans used online banking services by the end of 2002. According to a new forecast from the company, consumer use of online banking will grow at a Compound Annual Growth Rate (CAGR) of 14 percent up to year-end 2007. By that time, some 30 percent of Americans (67 million individuals) will be using online banking services. Gartner predicts that penetration will be higher among key demographic segments. Among consumers with annual household incomes between USD50,000 and USD75,000, more than one in five use online banking. In households … Continue reading Gartner Group: Online banking goes mainstream in US