Canadian Banks Use Internet to Skirt Insurance Ban

Canadian banks, facing the biggest profit decline in seven years, are expanding their insurance businesses, using the Internet and stand-alone outlets to get around restrictions dating from at least 1923 on insurance sales in bank branches... Royal Bank of Canada, Bank of Montreal and other lenders are increasing sales online and making acquisitions to skirt the rules and take a bigger slice of the country’s C$115 billion ($104 billion) insurance market...

Bloomberg: Canadian Banks Use Internet to Skirt Insurance Ban