The Role of the Bank of CanadaA Call for Responsibility

in Addressing Institutional Failures:

In the ongoing struggle for justice within the Canadian banking system, one of the most concerning aspects has been the Bank of Canada’s silence in the face of serious breaches of privacy, discrimination, and retaliation. As a central regulatory body responsible for overseeing the country's financial system, the Bank of Canada must take responsibility, especially when financial institutions fail to address systemic issues such as racial discrimination and the mistreatment of whistleblowers.

1. Upholding Consumer Protection and Fairness

The Bank of Canada holds a critical role in maintaining the integrity of the financial system. While it is not directly involved in managing individual banking institutions, it is responsible for overseeing the regulatory framework that ensures fairness, transparency, and the protection of consumers. When banks fail to protect their employees and clients—especially when it comes to racial discrimination and retaliation against whistleblowers—

the Bank of Canada must intervene to ensure that the protections set forth in laws such as the Bank Act and PIPEDA are upheld.

If financial institutions are failing to create an environment of equality,

the Bank of Canada should not remain passive. It must ensure that the banking sector is held accountable for these violations. If it doesn’t, the Bank of Canada is failing in its duty to safeguard a system of justice and fairness for all.

2. Addressing the Needs of Whistleblowers and Workers Facing Discrimination

As someone who has worked with two major banks and faced racism and retaliation for standing up for what is right, I can attest to the personal and professional toll that comes with exposing such wrongdoing. Whistleblowers are critical in holding institutions accountable, yet, despite working with multiple financial institutions where I witnessed discrimination, I was never given the support, protection, or opportunity to continue contributing positively. Instead, I was silenced and cast aside.

This is where the Bank of Canada must step in. It is imperative that the Bank ensures that banks are fostering a safe and supportive environment for whistleblowers—especially those who raise concerns about racial discrimination or other forms of misconduct. If banks fail to provide opportunities to those who report breaches, the Bank of Canada must hold them responsible, ensuring that employees can come forward without fear of retaliation and be given the opportunity to thrive in the industry.

3. Implementing and Enforcing Stronger

Protections for Marginalized Groups

The failure of financial institutions to protect whistleblowers, especially those from marginalized communities, exposes the systemic biases that persist within the banking industry. Despite the policies that these banks claim to have in place—particularly regarding anti-racism—the reality is that racism continues to permeate the workforce. The Bank of Canada must take responsibility for ensuring that these policies are not just on paper, but are actively enforced and serve their intended purpose.

Banks that fail to take meaningful action when it comes to diversity, inclusivity, and anti-racism efforts should face scrutiny. The Bank of Canada must ensure that any financial institution under its purview adheres to proper conduct by not only implementing diversity policies but also creating accountability structures to enforce them.

4. What Should the Bank of Canada Do? since they dont do their job.

Given that many banks have failed to provide opportunities for whistleblowers who have been advocating for ethical conduct, especially in cases of racial discrimination, t

he Bank of Canada must:

• Actively oversee the enforcement of consumer protection laws
• that ensure both clients and employees are treated fairly.
• Take responsibility for ensuring that financial institutions are fostering safe environments for individuals from marginalized communities and for those who raise concerns about systemic issues.
• Institute stronger protections for whistleblowers, particularly those who expose unethical practices, to guarantee they are not retaliated against or forced out of their jobs.
• Hold banks accountable for their actions, ensuring that they do not engage in systemic racism, discrimination, or retaliation against those who report violations of law or ethics.
• Provide clear guidelines for banks on the treatment of whistleblowers and ensure that employees who speak up are not only protected but also given the opportunity to advance in their careers without facing discrimination or retaliation.
• implement humanity?

5. Conclusion: A Call for the Bank of Canada; to .Act

The Bank of Canada cannot afford to remain silent in the face of institutional failure and systemic discrimination. As the regulatory body for Canada’s financial sector, it must step up and take responsibility for ensuring that banking institutions are fulfilling their legal and ethical obligations. This includes providing justice and opportunities for

whistleblower who was doing the right thing—standing up against racism and advocating for a more just, inclusive, and transparent banking system.

By taking a more active role in regulating the financial industry, the Bank of Canada can help prevent further injustice, create safer working environments, and help rebuild trust in Canada’s financial institutions. It’s time for accountability, not silence.

It’s time for action, since they are paid to do their job.