Big banks slammed for charging customers interest on interest for deferred mortgage payments

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A Toronto couple says temporary relief has turned to anger after learning it will cost them an extra $7,500 to defer their mortgage payments amid the COVID-19 crisis. All of Canada’s big banks are charging interest on top of deferred interest, which critics say means the banks are profiting in a time of emergency.

from CBC | Top Stories News https://ift.tt/34tLR54