Recent enforcement actions details

Case number: 
31878

Business:
Bank of Montreal

Does business as:
BMO

Individual First Name:

Individual Last Name:

Attached PDFs: 

• Compliance Order
• Notice of Administrative Penalty
• Decision

Summary:

Contraventions and Outcomes

(1) failing to comply with an Undertaking that required the Respondent to submit to Consumer Protection BC a report of mortgage discharges for the quarterly period November 1, 2023 to January 31, 2024 within 45 days of the end of that quarter.

(2) failing to comply with an Undertaking that required the Respondent to submit to Consumer Protection BC a report of mortgage discharges for the quarterly period February 1, 2024 to April 30, 2024 within 45 days of the end of that quarter.

Actions Taken

Administrative Penalty of $9,000.00 for contravention one; Administrative Penalty of $8,000.00 for contravention two.

Compliance Order requiring reimbursement of $5,245.00 to Consumer Protection BC for inspection and legal costs