After years of lingering on the sidelines of the Canadian banking market, U.S. banks may finally get the chance to become mainstream players.

That's because of a set of proposals expected to be debated in the Canadian Parliament this year that would allow foreign banks to open cross- border branches. The proposals were announced Feb. 24 by Doug Peters, Canada's secretary of state for financial institutions, who will submit them to parliament before yearend.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.