I used to suggest joining a credit union to people who complained about bank fees, and the first response would be that there were fewer ATMs and the branches were farther away. Canadians want premium service for free, and will do exactly nothing besides complain to get it.

Banking is another sector where they seem to make it hard for no reasons for international players to bring competition in the market place.

Banking, insurance, and telecom are all protected from foreign competition. It makes them fat and often lazy, but I’d hardly say there is no reason. Universal service mandates, tax administration, prudence regulation, and criminal justice are all compelling interests in those businesses. The government meddles because the people complain when they don’t.