Trump's Bank Claim Deemed False by Experts

President Donald Trump recently claimed that US banks are not allowed to operate in Canada. However, this is not true according to experts.

A spokesperson for the Canadian Bankers Association stated that there are currently 15 U.S.-based banks operating out of Canada, either as branches or subsidiaries. These banks have combined assets of approximately $124.6 billion in Canadian dollars (US$904 million).

Experts say that although US banks may face restrictions, they are not forbidden from operating in Canada. In fact, eight Canadian banks operate in the U.S., according to the Federal Reserve's most recent data.