TORONTO, June 10, 2020 /CNW/ - The Trust Companies Association of Canada (TCA) has announced that the Association will continue its operations under a new name – the Banks and Trust Companies Association ('BATCA' or the 'Association'), effective immediately. The new name has been chosen to reflect an expanding scope of the Association as well as its vision for the future. As part of the name change, BATCA has also released a new logo and will be launching a new website that will feature the Association's goals and objectives.
"While our history lies markedly as an organization representing Canadian trust companies, the distinction between the services offered by a trust company and a bank have become less defined over the past 30 years. As such it is important to have an organization that both represents, and identifies as representing, both banks and trust companies," Andrew Moor, the Chairman of the board of the Association, explained.
"Medium and smaller-sized deposit taking institutions provide an important element of competition and choice for Canadians. As an organization, BATCA will continue to act as a voice for these institutions and we look forward to continued engagement with federal and provincial regulators and government bodies on issues such as open banking, digital identity and payments modernization with a view to help advance innovation in financial services to create prosperity and benefit Canadian in all regions and walks of life," Moor continued.
About the Banks and Trust Companies Association
The Banks and Trust Companies Association, formerly the Trust Companies Association of Canada, was incorporated under the Canada Corporations Act on January 21, 1986 and continued under the Canada Not-for-Profit Corporations Act on August 11, 2014. The Association has grown since that time and now represents 26 Canadian banks and trust companies.
The objectives of the Association are to foster sound and equitable principles in the conduct of all segments of the financial industry; gather, research and distribute information of interest and value to Association members; promote the interests and welfare of members and those they serve; and represent the interest of the Association in consultation with governments and consumer groups, other associations, financial institutions, and the public.
SOURCE Banks and Trust Companies Association
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regarding this announcement, please contact: Banks and Trust Companies Association, Michael Mignardi, Secretary, mmignardi@eqbank.caCopyright CNW Group 2020