TSX:BMOBanks
Bank Of Montreal Fine Tests Compliance Culture While Shares Show Valuation Discount
The Financial Consumer Agency of Canada fined Bank of Montreal CA$4 million for consumer banking compliance violations.
Between 2010 and 2024, more than 100,000 customers were incorrectly charged monthly plan fees due to disclosure and procedural errors.
BMO has refunded affected clients and directed unreturned fees to a charitable donation.
For investors watching TSX:BMO, this enforcement action comes against a backdrop of strong long term share performance. The stock last closed at...