Desjardins Group welcomes the Code of conduct for the credit and debit card
industry in Canada

The implementation of the new code will bring increased transparency and choice for merchants and consumers

LÉVIS, QC, April 19 /CNW Telbec/ - Desjardins Group welcomes the Code of conduct for the credit and debit card industry in Canada tabled on April 16 by the Canadian Finance Minister.

"Merchants will now be better informed of costs associated with accepting credit and debit card payments and will be able to freely choose which payment options they will accept", said Normand Desautels, Senior Vice-President and General Manager of Personal Services at Desjardins Group.

Desjardins also supports the new provisions of the Code that will apply to the issuing of co-badged debit cards in Canada. "These rules will foster healthy competition among service providers in the Canadian debit and credit card market", said Desautels, adding that Desjardins also supported the provisions related to "premium" debit and credit cards.

Desjardins looks forward to working with the card payment networks and other parties to implement the new Code of conduct and hopes that this will contribute to re-establishing a climate of trust in the Canadian payment card industry.

About Desjardins Group

Desjardins Group is the largest cooperative financial group in Canada and the sixth largest in the world, with assets of $157 billion. Drawing on the strength of its caisse network in Québec and Ontario, and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.8 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty insurance, in Personal Services, in Business and Institutional Services. As one of the largest employers in the country, Desjardins is supported by the skills of its 42,200 employees and the commitment of over 6,200 elected officers. For more information, visit www.desjardins.com.

For further information: (for journalists only): André Chapleau, Director Media Relations, [phone], 1-866-866-7000, ext.7229, [email protected]