CWB welcomes new Code of Conduct for credit and debit cards
EDMONTON, May 10, 2010 - Canadian Western Bank (TSX: CWB) (CWB or 'the Bank') welcomes the release of a new Code of Conduct for credit and debit card companies in Canada.
“We are pleased to accept this code that should allow merchants to effectively manage their costs while also passing benefits onto the consumer,” said Peter Morrison, CWB Vice President of Marketing and Product Development. “We believe this code will further promote competitive interests with a focus on the needs of stakeholders.”
The new code of conduct has received wide-spread support from the credit and debit card industry in Canada citing its ability to foster healthy competition amongst service providers. The intent of the new code is to create a stronger, more transparent debit and credit card network in Canada, an outcome CWB fully supports.