Question

Which canadian banks froze accounts

Answer 1

During the **Emergencies Act** in February, Canada's banks found themselves in a precarious position. At the request of the federal government, they **froze accounts** of clients allegedly connected to the **truckers' Freedom Convoy protest rally** in downtown Ottawa. These actions left many customers feeling uneasy and abandoned. Despite the friendly claims of bank ads, the banks complied without publicly questioning the authority of the order or the legitimacy of the list¹.

Here are some key points:

- **Number of Frozen Accounts**: More than **200 bank accounts**, totaling nearly **$8 million**, were frozen during the protest occupation².
- **Banks Involved**: Canadian banks, including **TD Bank**, were among those that froze accounts³⁴.

The banks' compliance with the government's directive raised concerns about due process and the protection of customers' financial rights. It's a reminder that even institutions entrusted with safeguarding our money can find themselves caught in the crossfire of political decisions.

Source:
(1) Frozen: How Canada’s Banks Betrayed their Customers During the. https://c2cjournal.ca/2022/05/frozen-how-canadas-banks-betrayed-their-customers-during-the-emergencies-act/.
(2) Most bank accounts frozen under the Emergencies Act are being released .... https://www.cbc.ca/news/politics/emergency-bank-measures-finance-committee-1.6360769.
(3) Banks have frozen millions in convoy funds under the Emergency Act .... https://financialpost.com/fp-finance/banking/convoy-leader-denied-bail-as-canadian-officials-warn-of-unrest.
(4) Canadian 'Freedom Convoy': TD Bank freezes accounts with $1.1M for .... https://www.foxbusiness.com/politics/canadian-freedom-convoy-td-bank-freezes-accounts-with-1-1m-for-trucker-protest.