CAMP Welcomes Conservative Opposition to RBC’s takeover of HSBC

October 20, 2023 – Conservative Party leader Pierre Poilievre urging Deputy Prime Minister Chrystia Freeland to block the proposed takeover of HSBC Canada by RBC is a positive development for Canadians and competition. Poilievre correctly notes that allowing the transaction to proceed would reduce competition in the banking sector as Canadians struggle under a housing affordability crisis. With less competition, homeowners will have fewer options to offset the cost of rising interest rates as mortgage payments hit record levels.