The Globe and Mail reports in its Friday edition that Canada's financial consumer watchdog said unclear fees imposed by the country's six largest banks are costing consumers, and the banks are making it hard for customers switch for better rates and pricing. The Globe's Stefanie Marotta writes that the Financial Consumer Agency's 130-page report takes aim at barriers to switching banks, excess transaction fees, foreign currency conversion markups, ATM costs and other concerns. Prime Minister Mark Carney wants to boost innovation and improve access to financial services. The FCAC said its findings raise questions about whether the cumulative costs disproportionately affect certain consumers, particularly those with lower incomes and limited savings. Across nine customer fee categories, the watchdog estimated that financial institutions made $2.45-billion in total revenue in 2025. The FCAC examined federally regulated financial institutions for differences in fees among products and services, the clarity of communication on fee information, and how the cumulation of these costs affects customers. Fintechs and advocates want Ottawa to speed up timelines and avoid further delays in implementing an open banking regime.