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Hidden cameras capture bank employees misleading customers and pushing products that help sales targets

Banking insiders reveal how sales pressure can harm Canadians

6 months ago

Duration 2:49

Current and former employees of Canada's big five banks speak out about what happens behind closed doors the enormous pressure to push financial products to customers.

Michelle Jeraline says she's so stressed out by the pressure to sell customers products at TD Bank, it's affected her health.

The TD employee says she's usually not acting in the best interest of her clients she's trying to sell them products that will help her meet sales targets and keep her from being fired.

"It's weighing on me," she said. "And it doesn't feel good."

CBC is not using her real name and has agreed to conceal her identity, because she fears losing her job. And she's not alone.

Marketplacehas spoken confidentially to current and former bank employees from all the big banks TD, RBC, BMO, Scotiabank and CIBC concealing their identities because they fear professional repercussions. All expressed similar concerns about enormous sales pressure they say leads to potentially costly or otherwise dangerous financial products being pushed on customers.

To test the sales culture,Marketplacetook hidden cameras to teller wickets and into the offices of financial advisors at the big five banks.

We were pitched everything from pricey credit cards to lines of credit, given poor advice about debt and misinformation about mutual funds. Hidden cameras also repeatedly caught bank employees breaking the law, according to consumer advocate Duff Conacher.

"What you describe is rampant violation," said Conacher, co-founder of Democracy Watch, referring to the Bank Act, which governs the behaviour of Canadian financial institutions.

None of the banks agreed to an on-camera interview request. In a statement from the Canadian Bankers Association, a spokesperson said, "The examples described do not reflect the experience millions of Canadians have every day with employees at Canada's banks."Read More

You can watchMarketplace'sseason finale, "The Big Bank Upsell," tonight at 8:00 p.m. (8:30 p.m. in N.L.) on CBC TV,CBC Gem, andYouTube.

Shoppers Drug Mart says it doesn't have medication review targets, but records show it does

If you've received an unsolicited phone call from your Shoppers Drug Mart Pharmacy, you're not alone.

Many people have written to CBC about unsolicited medication reviews by Shoppers Drug Mart pharmacists, following an investigation by CBC News.

In January, a Shoppers Drug Mart district manager in Ontario wrote to store owners in his area to express "deep disappointment" in their performance during the first week of 2024.

"Despite clear plans and expectations, it is evident that we fell significantly short of our targets," reads the email obtained by CBC News.

The email is one of dozens of internal records that frustrated pharmacists from across the country provided to CBC News to show that the pharmacy chain has targets for professional services like medication reviews and corporate management pressured pharmacy owners to meet those numbers.

That's despite president Jeff Leger's denial last month,when he told CBC News,"We don't have targets or any other kind of element like that."

Leger's statement struck a chord with more than a dozen of the chain's current and former associate owners and pharmacists, who confirmed the existence of targets for professional services, and pressure to meet them.

"It was really disturbing to us as associate owners to hear that from the president," said one pharmacist, whom CBC is not identifying. "We have brought this up many times starting last year that there shouldn't be any targets or quotas when it comes to professional services and in particular for medication reviews."

"The pressure was extremely intense," said another pharmacist and former associate store owner.

"They were essentially monitoring performance records weekly and if you were not hitting your weekly billing numbers, you were requested to come up with business plans and somehow come through with those billing dollars at the end of the day."

CBC News requested an interview with Leger about his claim the company doesn't have targets for medication reviews, but was told he was not available.

In an email statement, a Shoppers Drug Mart spokesperson said, "We stand by our previous remarks."Read More

Loblaw is testing a new way to combat theft at self-checkout, and shoppers are not happy

In an attempt to combat theft at its stores, Loblaw is testing receipt scanners at four of its locations, the grocery giant told CBC News.

Customers who go through self-checkout must use the device to scan their receipt's barcode confirming that they paid something which opens a metal gate, letting them leave.

Loblaw didn't provide any further details, but CBC discovered the devices in a Loblaw-owned Zehrs and two Superstore supermarkets in southern Ontario.

Several shoppers were unhappy about them.

"It's very intrusive. It makes you feel like a thief," said Paul Zemaitis, who recently discovered a scanner at his local Zehrs in Woodstock, Ont., some 70 kilometres west of Hamilton.

He said when leaving the self-checkout area, he didn't notice the scanner, so he pushed open the exit gate, prompting a loud alarm to go off.

"I said, 'What the hell's going on? I paid already.'"

Zemaitis said a store employee helped him scan his receipt so he could leave without setting off the alarm again.

"It's just not a customer-friendly tactic."

Jonathan Hayes says he also had a bad experience with the receipt scanner at the same store.

"It just introduced so much extra chaos," he said. "You had some people, especially a lot of elderly folks, [who] were completely unaware this was a new thing, and were just pushing their carts through the closed gate.
"It would trigger alarms. There were alarms going off maybe every one to two minutes."

In an email to CBC News, a Loblaw spokesperson wrote, "We are working hard to balance a need for enhanced security while at the same time preserving a welcoming and convenient customer experience."Read More

Our season is over, but our work continues.

Our show will be back in the fall with Season 52. In the meantime, we'd love to hear your tips, gripes, and story ideas. Reach out to us atmarketplace@cbc.ca. And of course, stay informed with our newsletter, which will continue throughout the summer.

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At issue are alleged concerns about risks to national security and young users. The counterclaim: American politicians are unfairly picking on a Chinese-owned company.

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