Peoples Group
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| Peoples Group | |
| Industry | Financial services |
| Founded | 1985 |
| Headquarters | |
Area served | Canada, United States |
Key people | Grant MacKenzie, CEO |
| AUM | CA$6.93 billion |
| Parent | Triple Five Group |
| Subsidiaries | Peoples Bank of Canada |
| Website | peoplestrust.com |
Peoples Trust Company,[1] operating as Peoples Group, is a Canadian financial services company based in Vancouver, British Columbia. Peoples Group operates as a trust company and also maintains a chartered bank subsidiary, Peoples Bank of Canada. It is a subsidiary of the Alberta-based holding company Triple Five Group and maintains offices in Vancouver, Calgary, and Toronto.
When Peoples Trust opened in 1985, it focused on the origination of residential and multi-family mortgage products, and the provision of short- and long-term guaranteed investment products. It now includes a specialty in care facility and other commercial mortgages, as well as a line of secured and prepaid credit card products.
Services
Services provided by Peoples Trust:
- Mortgage origination (Multi-Family, Commercial, Construction, and Residential)
- Mortgage servicing
- Deposit services (GICs, RRSPs, TFSAs, e-Savings)
- Secured credit cards
- Prepaid credit cards
Membership and affiliations
Peoples Group and its subsidiary Peoples Bank of Canada are separately members of the Canada Deposit Insurance Corporation (CDIC).[2]
Class Action Lawsuit
On May 13th 2019 Ontario Superior Court awarded $ 16.8 million (CAD) (including $ 1.5 million in punitive damages) to plaintiffs in a class action lawsuit regarding fees and unused balances the company seized from consumers of its prepaid gift cards[3] between 2012 and 2014. The decision is currently (as of August 2019) under appeal.
References
- ^ "Personal Information Protection". Peoples Group. Retrieved 15 December 2020.
"Peoples Group"...means Peoples Trust Company and all of its subsidiaries and business operations
- ^ "List of Members". Canada Deposit Insurance Company. Retrieved 15 December 2020.
- ^ https://sotosclassactions.com/cases/current-cases/prepaid-credit-cards/
External links
Peoples Trust Company. Racist Policies . Peoples Trust Company has been accused of racist policies . https://www.cheaters.news/peoples-trust-company-racist-policies-peoples-group-peoples-trust-company/ https://www.cheaterboard.com/peoples-trust-company-loses-court-awards-16-8-million-to-ontario-consumers/ https://thecheatalert.com/?s=peoples+trust https://prepaidclassaction.ca/wp-content/uploads/2020/08/Prepaid-Cards-Court-Order-approving-notice-of-settlement-hearing.pdf
https://www.cheaters.news/peoples-trust-company-racist-policies-peoples-group-peoples-trust-company/
https://www.cheaterboard.com/peoples-trust-company-loses-court-awards-16-8-million-to-ontario-consumers/
https://thecheatalert.com/?s=peoples+trust
https://prepaidclassaction.ca/wp-content/uploads/2020/08/Prepaid-Cards-Court-Order-approving-notice-of-settlement-hearing.pdf