What they don't like is our strict banking laws so they can fuck around and get bailouts.
My SO btw works for an American company's Canadian branch. With multiple international offices.
You really are just talking out of your ass now.
Let's start out with a simple statement that has been reinforced by about every economist and economic publication.
The United States is the most open market in world trade.
I believe you are right about banking laws. Canadian banks have higher reserve requirements.
Branches are one thing, but the real way banks make a dent in a market is through acquisition. It's usually not practical to go into an established market in a major push and try to steal customers from other banks. Having a few locations in major cities is not a big platform. It's quite common for major U.S. banks to have a few offices in the major economic hubs around the world.
What I am curious to know is how open the Canadian financial services market is to foreign investment? Canadian banks have routinely bought U.S. banks and expanded into the U.S. TD Bank in the Northeast, BMO in Chicago and RBC Bank in Los Angeles are the most prominent.
By the way, Canadian banks also get caught violating U.S. banking laws.
TD Bank, Canadian-owned but the 10th largest US bank, consented to a $3-billion settlement with US regulators over its decade-long failures to monitor customer transactions, becoming the first US bank in history to plead guilty to conspiracy to commit money laundering. The case highlights the...
internationalbanker.com