Trump's Claim About US Banks in Canada Shot Down by Experts

President Donald Trump recently made a claim that U.S. banks are not allowed to operate in Canada, but experts say this is not true.

During a meeting with U.S. travel executives, Trump stated that Canadian banks have six or seven major banks, but U.S. banks do not have the same opportunity.

This assertion was met with skepticism by experts who pointed out that there are currently 15 U.S.-based banks operating in Canada, either as branches or subsidiaries.

The Canadian Bankers Association stated that these banks have combined assets of approximately $90.1 billion in US dollars and provide a range of financial services including corporate and commercial lending, treasury services, credit card products, investment banking, and mortgage financing.