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    • TD-Canada Post lending program paused after suspicious activity detected

    The Canada Post logo is seen on the outside the company's Pacific Processing Centre, in Richmond, B.C., on June 1, 2017. Canada Post is now offering loans alongside stamps and packaging as it officially launches a partnership with TD Bank Group. THE CANADIAN PRESS/Darryl Dyck The Canada Post logo is seen on the outside the company's Pacific Processing Centre, in Richmond, B.C., on June 1, 2017. Canada Post is now offering loans alongside stamps and packaging as it officially launches a partnership with TD Bank Group. THE CANADIAN PRESS/Darryl Dyck
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    TORONTO -

    TD Bank Group says it paused the MyMoney lending program it recently launched with Canada Post after it detected suspicious activity on its system.

    Spokeswoman Amy Thompson says processing was affected when the bank's security system noticed "early warning signs of irregular activities" and the bank decided to pause the program to investigate.

    She says it is disappointing that "bad actors" tried to take advantage of the lending program, officially launched Oct. 12, that is meant to expand access to loans through the partnership with Canada Post.

    Thompson says the bank, which is in charge of running the program, hopes to reopen applications as soon as it feels it is appropriate.

    The program, offering loans of between $1,000 and $30,000 at variable interest rates currently ranging from about 10 and 20 per cent, is designed to fill a gap between payday lenders and traditional banks.

    Under the program, postal workers direct customers on how to apply either online or by phone for the loans, as well as to provide materials with more information, while TD employees support customers through the actual application, decision-making and funding process.

    This report by The Canadian Press was first published Nov. 28, 2022.

    CTVNews.ca ÐÇ¿Õ´«Ã½

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    Canada

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

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    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

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    Autos

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    Local Spotlight

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    • In the middle of the small crowd — near the tents, the lineup of kids awaiting face painting, the snack table — stood a jubilant Chiara Padovani. 'When I say 'tenant, you say 'power,'' she commanded to several dozen tenants, who chanted back with gusto. What looked like a summer block party in front of two north-end Toronto apartment buildings last month was a celebration of what renters who withheld payments for months called a 'huge victory.'

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    • BREAKING NEWS

      BREAKING NEWS

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    N.L.

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