Do banks prioritize the needs of their customers?

Banks are in the business of staying profitable. And while there’s nothing wrong with that, the way they sell financial products and manage employee performance can lead to sales cultures that are misaligned with consumer interests, according to a new report from the Financial Consumer Agency of Canada (FCAC).

The agency sifted through 4,500 complaints related to sales practices involving Canada’s six largest banks—Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, and Toronto-Dominion Bank.

The FCAC also reviewed 100,000 pages of documents (including those about how banks handle training, performance, and self-policing), and interviewed more than 600 bank employees.

Here are some of the major takeaways from the report:

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