Bill C-365: An Act respecting the implementation of a consumer-led banking system for Canadians

Short Title Short title 1 This Act may be cited as the Consumer-led Banking Act . Implementation of Open Banking Implementation plan 2 The Minister of Finance must cause to be tabled in each House of Parliament, within 30 days after the day on which this Act comes into force or, if the House is not then sitting, on any of the first 10 days of the next sitting of the House, a plan for the implementation of open banking in Canada. Introduction of bill 3 If, within six months after the day on which this Act comes into force, the Minister of Finance has not caused to be introduced in either House of Parliament a bill that provides for the implementation of open banking in Canada, the Minister must, as soon as feasible after the end of that period, cause to be tabled in each House of Parliament a report that sets out the reasons for the delay and the expected timeline for the bill’s introduction.