Constitutional Challenge: Credit Card Conversion Rates

On September 19, 2014 in the Bank of Montreal v. Marcotte decision, the Supreme Court of Canada dismissed the banks’ appeal and allowed Marcotte’s appeal in part.  The Supreme Court of Canada further established how the doctrines of interjurisdictional immunity and paramountcy should only be applied with a level of judicial restraint.  Neither imterjurisdictional immunity nor paramountcy prevented Quebec’s consumer protection legislation from applying to a lack of bank disclosure for credit card conversion rates even though banking is typically within the federal jurisdiction.

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