$ 2,000 fine for unauthorized customer credit checks

At the hearing on 30 August, after having admitted his guilt on the sole count of the complaint, the Assessor Bill Badran (certificate # 212 884, BDNI # 3655951) was fined $ 2,000 by the disciplinary committee of the Financial security room.

The sanction was confirmed in the sentence published on 4 October 2022. The defendant contravened art. Acting with respect for the distribution of financial products and services.

In Montreal in November 2021, the defendant failed to act competently and professionally by gaining unauthorized access to a consumer’s bank and credit file.

The commission orders the conditional suspension of the proceeding with respect to the other provision alleged in support of the appeal. The respondent is ordered to pay the disbursements.

The $ 2,000 fine was approved by the committee on the joint recommendation of the parties’ attorneys.

The context

Defendant is a financial planner and mortgage representative at a major financial institution. He was looking for a loan for the purchase of a condominium by two buyers. The LP consumer had been a client of him for several years, but not YG

The interviewee assumes that both buyers need financing for the acquisition, but later learns that only LP needs a mortgage.

The defendant had obtained from the latter the authorization to carry out checks at the credit office. However, she took the initiative to check YG’s financial status at the credit office without her permission.

When the latter received a questionnaire about his financial situation from the interviewee, the consumer indicated that he did not need a mortgage loan.

The customer filed a complaint with theFinancial Markets Authority. The investigation revealed that the defendant knew he needed to obtain YG’s authorization before accessing his credit file.

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