C-365Consumer-led Banking Act
An Act respecting the implementation of a consumer-led banking system for Canadians
Private member's bill, introduced in the House of Commons on November 9, 2023
- Status
- At report stage in the House of Commons since October 9, 2024
What it does
Requires the Finance Minister to table an open banking implementation plan and, if needed, explain delays in introducing a related bill.
What it does
- Requires the Minister of Finance to table a plan for implementing open banking in Canada within 30 days after the Act comes into force, or within the first 10 sitting days of the next House sitting if needed.
- Requires the Minister of Finance to table a report if no open banking bill has been introduced within six months, setting out the reasons for the delay and the expected timeline.
Who it affects
- Minister of Finance
- Parliament
- Canadians who use banking services
- Banks and other financial institutions
Background
The bill concerns the implementation of open banking in Canada and sets deadlines for ministerial reporting.
Where it is
House of Commons
First reading
Completed.
Second reading
Completed.
Committee
Completed.
Report stage
Current stage. Now here
Third reading
Not reached.
Senate
First reading
Not reached.
Second reading
Not reached.
Committee
Not reached.
Third reading
Not reached.
Royal assent
Royal assent
Not reached.
Introduced by an MP who is not a minister. These bills compete in a lottery for debate time, and most do not become law. How a bill becomes law
How the House voted
2nd reading of Bill C-365, An Act respecting the implementation of a consumer-led banking system for Canadians
Vote 671,
Passed
172 yeato150 nay · 2 paired
Party breakdown for vote 671 Party Position Yea Nay Did not vote Liberal Nay1 broke ranks 1 149 6 Conservative Yea 116 0 2 Bloc Yea 29 0 3 NDP Yea 22 0 3 Green Yea 2 0 0 Independent Yea1 broke ranks 2 1 0 Total 172 150
What MPs said
Each party’s first speech on this bill in the House, from Hansard. Excerpts are the speaker’s opening sentences, unedited.
LiberalKevin Lamoureux· February 1, 2024
“I think, in terms of a secure and stable financial sector, that is what Canadians want to see. It was not that long ago when Stephen Harper was the prime minister and we had a banking industry that came out of the 90s that was fairly healthy because of decisions that Jean Chrétien and Paul Martin put into place to protect our banking industry.”
Read the full speech on openparliament.caConservativeRyan Williams· November 9, 2023
“Moved for leave to introduce Bill C-365, An Act respecting the implementation of a consumer-led banking system for Canadians. Conservatives want to get Canadians back in control of their financial freedom.”
Read the full speech on openparliament.caBlocJean-Denis Garon· February 1, 2024
“I will start by thanking the member for Bay of Quinte for introducing the bill. It is a very interesting bill.”
Read the full speech on openparliament.caNDPRachel Blaney· February 1, 2024
“Today, we are here talking about a private member's bill from the member for Bay of Quinte, Bill C-365. This is a very interesting bill.”
Read the full speech on openparliament.ca
Read the source
LEGISinfo status: At report stage in the House of Commons. Bill data from LEGISinfo, votes from openparliament.ca and the House of Commons. Last updated October 13, 2026.