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CWB welcomes new Code of Conduct for credit and debit cards

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  Published in Business and Finance on Monday, May 10th 2010 at 8:50 GMT by Market Wire
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EDMONTON, May 10 /CNW/ - Canadian Western Bank (TSX: CWB) (CWB or 'the Bank') welcomes the release of a new Code of Conduct for credit and debit card companies in Canada.

"We are pleased to accept this code that should allow merchants to effectively manage their costs while also passing benefits onto the consumer," said Peter Morrison, CWB Vice President of Marketing and Product Development. "We believe this code will further promote competitive interests with a focus on the needs of stakeholders."

The new code of conduct has received wide-spread support from the credit and debit card industry in Canada citing its ability to foster healthy competition amongst service providers. The intent of the new code is to create a stronger, more transparent debit and credit card network in Canada, an outcome CWB fully supports.

About Canadian Western Bank Group

Canadian Western Bank offers a full range of business and personal banking services across the four western provinces and is the largest Canadian bank headquartered in Western Canada. The Bank, along with its operating subsidiaries, Canadian Western Trust Company, Valiant Trust Company, Canadian Direct Insurance Incorporated, National Leasing Group Inc., Adroit Investment Management Ltd. and Canadian Western Financial Ltd., collectively offer a diversified range of financial services across Canada and are together known as Canadian Western Bank Group. The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol 'CWB'. Refer to [ www.cwbankgroup.com ] for additional information.