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Finance Minister says banks to offer customers more financial information

Finance Minister Joe Oliver speaks to media in Wakefield, Que., on Aug. 12, 2014.

Federal Finance Minister Joe Oliver says Canadian banks will soon be providing customers with more information about potential risks associated with things like joint bank accounts, powers of attorney and collateral mortgages.

Oliver says general information on the topics will be posted on bank websites as well as being available in bank branches by the end of the year.

Bank staff will also be trained to give this information directly to clients.

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The finance minister says the information will provide an additional level of transparency to numerous financial products available.

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