Bank Act (S.C. 1991, c. 46)

Marginal note:No provision without express consent and agreement

• 627.08 (1) Subject to any regulations, an institution shall not provide a person with a product or service in Canada without first

  • (a) obtaining the person’s express consent to do so;

  • (b) entering into an agreement with the person for it to be provided; and

  • (c) providing the person with a copy of the agreement, if the agreement is for a product or service to be provided on an ongoing basis.

• Marginal note:Oral consent — written confirmation

  (2) If the consent is given orally, the institution shall provide the person with written confirmation of that consent without delay.

• Marginal note:Use not consent

  (3) Use by the person of the product or service does not constitute express consent for the purpose of subsection (1).