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Trump mistaken, U.S. banks can and do operate in Canada says finance professor

Trump mistaken, U.S. banks can and do operate in Canada says finance professor


Published on 2025-02-03 16:40:47 - MSN
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  • A finance professor at the University of Toronto says American banks do operate in Canada despite assertions by U.S. President Donald Trump that they are not allowed to do business in the country.

The article from MSN Canada discusses a clarification made by a finance professor regarding former U.S. President Donald Trump's claim that U.S. banks do not operate in Canada. The professor, from the University of Toronto, explains that contrary to Trump's assertion, several major U.S. banks like Citibank, Bank of America, and JPMorgan Chase do indeed have operations in Canada. These banks offer services ranging from corporate banking to wealth management. The article highlights that while these banks might not have the same extensive retail presence as Canadian banks, their operations are significant, especially in areas like investment banking and commercial lending. The professor's comments aim to correct the misinformation and provide a clearer picture of the banking landscape between the U.S. and Canada.

Read the Full MSN Article at:
[ https://www.msn.com/en-ca/news/canada/trump-mistaken-u-s-banks-can-and-do-operate-in-canada-says-finance-professor/ar-AA1ylLBQ ]
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