Chip in to tell the banks to put people before profits during COVID-19

Canada’s big banks have been given a break by the Bank of Canada, which slashed lending rates so banks can reduce interest for customers struggling during COVID-19. [1]

But their CEOs aren’t passing these savings on instead they’re profiting while people rack up debt to pay for food, medication and other essentials during the crisis.

CEOs have a lot of power — but their number one priority is protecting the banks’ profits, so we’re going to have to work hard to convince them to help out regular Canadians who are struggling because of COVID-19.

Here’s our plan: banks have whole departments dedicated to preserving their public brand. A massive ad campaign calling out the banks for profiting during a pandemic could threaten their reputation — and would catch the CEOs’ attention. It could be enough to convince them to lower interest rates, so no one has to drown in debt to pay for essentials during the crisis.

If we raise $10,000 by Sunday, we can splash your powerful “People over profits” message all over the Globe and Mail’s finance section. Chip in now.

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