Banks went beyond RCMP list of names in freezing a ‘small number’ of accounts under Emergencies Act: Bankers Association

The financial aspects of the powers were the most unusual. The regulations approved by cabinet allowed banks to freeze personal and business accounts without obtaining a court order and without fear of being sued. Ms. Mason said the law compelled the banks to freeze accounts subject to the federal orders.

Ms. Mason said the banks relied on verbal briefings from federal officials in determining what actions were required.

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