Town miffed by bank’s response
‘A letter coming from the town representing citizens is not good enough’
Shelburne Town Council was a bit miffed at the reply it received from the Financial Consumer Agency of Canada (FCAC), requesting a town hall meeting be held to discuss the closure of the Shelburne Scotia Bank branch.
“As you may be aware, an individual or community representative from the area affected by the branch closure can make a request asking that the Commissioner consider holding a meeting between representatives of the bank, representatives of the Agency, and interested parties in the vicinity of the branch to discuss the branch closure or cessation of activities," wrote the FCAC in the reply received by council at their Jan. 2 meeting.
The FCAC said the goal of such a meeting is to exchange views about the branch closure or cessation of activities.
“When a request is received the FCAC Commissioner will require that a bank convene and hold a meeting if the following conditions are met: the bank has not consulted the community in the area affected by the closure of the branch or the cessation of the activity, alternate service delivery by the bank or measures to help the branch’s customers adjust to the closing or cessation; (and) the request to hold a meeting is not frivolous or vexatious.”
The letter went on to say it is important to note the role of the FCAC “is to ensure that advance notice is given to allow time for the community to react and to ensure that sufficient consultation has taken place between the bank and the affected community given the circumstances of the closure.”
Town councillor Elizabeth Acker, who is also a Scotia Bank customer, was not impressed with the letter.
“They just went ahead and made this decision and then we get this. A letter coming from the town representing citizens is not good enough but a letter from one individual… it makes me angry. People are upset,” she said, adding she will certainly be writing a letter to the FCAC as a Scotia Bank customer.
Shelburne Scotia Bank customers were notified last fall the Shelburne branch would be closing on May 9, 2024, leaving the town with only one bank, the CIBC.