Fellow Canadians will recognize Rogers.  It's the Internet/Phone/TV/Media conglomerate  that has a huge grasp on everything telecoms in this country.  It's trying to expand out again:  it has now applied to become a bank; the company states that it has "no plans to become a full-service deposit-taking financial institution," but would like "to pursue a niche credit card opportunity."  Other companies like PC, ESSO, Petro Canada, etc. have done this before as well, but coming from such a huge company like Rogers.. it's a little scary.. it's like it's trying to insert itself into all aspects of everyday life..
 
Link

Rogers Communications has applied to become a bank under the federal Bank Act.

The telecom company filed papers to the Minister of Finance over the weekend asking to become a national banking institution, a Rogers spokesperson confirmed to CTVNews.ca Tuesday.

If approved, the proposed "Rogers Bank" will focus mainly on credit, payment and charge card services. The institution's head office would be located in Toronto.

The company, however, stressed that it has no interest in becoming a full-fledged bank.

"We have no plans to become a full-service deposit-taking financial institution," Rogers Public Affairs Manager Carly Suppa said in an emailed statement.

"The license, if granted, would give us the flexibility to pursue a niche credit card opportunity to our customers should this make sense at a future date," she wrote.

Suppa noted that Rogers' application could take more than a year to go through.

A spokesperson at the OSFI, the national agency that processes bank applications, couldn't confirm Rogers' submission but said the amount of time it takes to process applications will vary.

"There's really no average time. It depends on the amount of work we're dealing with when the application is filed," said OSFI Communications Officer Leonie Roux.

SCARY.

This is hardly the most disturbing thing that a business has ever done.

This is hardly the most disturbing thing that a business has ever done.

Fuck Rogers so hard haha Gah, two family members work for them and I still hate them.

@nintendoeats said:

This is hardly the most disturbing thing that a business has ever done.

This is true

So, lemme guess.  Rogers is going to install NFC chips in all their cell phones, require you to sign up for credit if you want their phones (guaranteed acceptance, even for someone who just turned 18), then charge 30% interest for every purchase like Capital One does.  Sounds like a solid plan to me.

I fucking hate Rogers and try to convince my parents to change to another cable provider every day.

There's money to be made in banking. Such is the life of a business. Nokia started with shoes or something before phones you know.

There's money to be made in banking. Such is the life of a business. Nokia started with shoes or something before phones you know.

Now they have to buy out Nokia and bring back the N-Gage

@mnzy: Touche, I never thought of that!

@nintendoeats said:

This is hardly the most disturbing thing that a business has ever done.

This is true

This is hardly the most disturbing thing that a business has ever done.

I hate the whole telecommunications industry in Canada. I wish I didn't need a cell phone so I wouldn't have to put up with any of these assholes. 

it sounds like a bad idea. i know i wouldn't join a bank that is also a cable, internet, provider.

Shadowings of Umbrella, anyone?

Well that's pretty much all around terrible idea. God knows Rogers has what has to be some of the worst customer service I've ever dealt with.

So wait, we're okay with oil companies, big box retailers, and grocery outlets issuing credit but not a telecom company? Consumption-geared credit itself is the problem, not who issues it. If you can't afford it and it won't increase your income, don't buy it yet. That's a really straightforward rule to live by.

So wait, we're okay with oil companies, big box retailers, and grocery outlets issuing credit but not a telecom company? Consumption-geared credit itself is the problem, not who issues it. If you can't afford it and it won't increase your income, don't buy it yet. That's a really straightforward rule to live by.