Halt RBC Sargent & Sherbrook closure
Petitioners ask the Minister of Finance to stop closing the RBC branch at Sargent and Sherbrook in Winnipeg. The government responds that banks must give four months' notice and the FCAC can convene meetings.
Why we would sign this petition
- Maintains local in-person access to deposits, bill payments and other essential services for residents who lack reliable internet or devices.
- Reduces added costs and barriers from traveling farther or using fee‑charging ATMs, supporting affordability for low‑income residents.
- Protects seniors and people with disabilities who rely on accessible branches and staff familiarity to spot and assist with problems.
Why we wouldn’t sign this petition
- Banks make commercial decisions and the government generally does not intervene in day‑to‑day business choices, so a forced halt may be impractical.
- If branch usage is low, keeping it open could be financially unsustainable and divert resources from modern service delivery channels.
- Existing rules require four months' notice and allow the FCAC to convene meetings; regulatory or consultation changes might address harms without preventing closures.
The summary and both sets of reasons are AI-generated from the petition and given equal weight. Claims are the petitioners’ own; consult the official record for the full text.
Official petition
Petition to the Minister of Finance Whereas: The Royal Bank of Canada at the corner of Sargent Ave. and Sherbrook St. in Winnipeg is vital to our community for the following reasons: Neighbourhoods need banks for essential financial services, including deposits and paying bills. This bank is located in our central business district and its absence will leave a gaping hole. Affordability: the alternatives to this location will cost residents extra money in the form of ATM fees and transportation costs. The staff at this location speak many languages, helping serve a diverse community. Replacing staff with technology, such as online, mobile, and cellphones, will not meet these banking needs. Many people don't have cellphones or computers. Accessibility for seniors and people with physical disabilities: The next closest bank is half a kilometer away. The staff at the RBC often know their clients by name and watch out for unusual activity on their accounts. This kind of familiarity is irreplaceable. Last year the RBC made 16.2 billion dollars. Our neighbourhood struggles to keep grocery stores, department/dollar stores, bakeries, restaurants, and retailers open. Losing our bank is a big deal. We, the undersigned, citizens and residents of Canada call upon the Minister of Finance, the Honourable Francois Phillipe Champagne to halt the closing of the Royal Bank of Canada at the corner of Sargent and Sherbrook in Winnipeg, Manitoba.
Government response
Response by the Minister of Finance and National Revenue Signed by The Honourable François-Philippe Champagne The Government of Canada takes the protection of financial consumers very seriously. The government’s goal is to ensure that bank customers benefit from strong consumer protection standards. As technological advances have made it possible for banks to provide financial products and services to consumers digitally, banks have opted to reduce their physical footprint. Consumers accustomed to legacy services may understandably feel left behind. The government requires that banks closing branches give their customers ample notice of these decisions, including providing information to help consumers make important decisions about how they can access financial products and services going forward. Under the Bank Act, when a bank plans to close a branch in an urban setting, it is required to provide impacted consumers with four months’ notice of the upcoming closure. This notice must also include the measures that the bank is taking to maintain any financial services that are available in the area that is served by the branch, to the extent that information is available. The bank must clearly inform consumers of the appropriate contact details for the Commissioner of the Financial Consumer Agency of Canada (FCAC). While we appreciate that this situation is difficult for your community, the government does not interfere in the day-to-day business decisions of financial institutions, including the closing of bank branches. Should you feel that adequate consultation has not taken place, groups or individuals may request that the FCAC convene a meeting. The FCAC has the authority to require the financial institution to engage directly with those impacted to discuss alternative service delivery methods and to explore measures that can assist customers during the transition. More information about your rights when a branch closes in your community is available here: Branch closures: know your rights - Canada.ca. The government is working to ensure that consumer protection rules remain suited for purpose in the digital age. In August 2024, as part of the public consultations on the Financial Sector Legislative Review, the Department of Finance sought stakeholders’ views respecting proposed measures to enhance notice of branch closure disclosure, prohibit account transfer fees following a branch closure, and clarify rules for account opening outside of a branch. Views and feedback from the consultation will inform government policy respecting branch closures.