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Federal Conservatives join call to stop RBC takeover of HSBC



While many of the civil society groups that are part of the campaign to stop this takeover have little agreement with Pierre Polllievre's Conservative party, the news that they also oppose this deal gives us a rare sense of common cause.


As reported in the Globe and Mail (paywall), Global News, and many other sources, the Conservatives are also calling on the federal government to block the takeover, saying it will reduce banking competition at a time when homeowners are strugging with high borrowing costs.

“If the biggest bank in Canada simply buys up a growing smaller player, then there’s no hope of ever having more competition in Canadian banking,” he said. “If you remove HSBC, then you’ll be removing downward pressure on lending rates.” - Pierre Pollievre, to the Globe and Mail

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