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RBC cuts ties with Canada's WE Charity following review

Published 07/28/2020, 11:30 AM
Updated 07/28/2020, 11:35 AM
© Reuters. The Royal Bank of Canada logo is seen outside of a branch in Ottawa

(Reuters) - Royal Bank of Canada (TO:RY) said on Tuesday it has reached a mutual agreement with Canada's WE Charity to end all sponsorships and donations to the charity, following a review of their partnership.

The charity did not immediately respond to a request for comment.

WE Charity has been at the heart of a controversy after an ethics investigation into Prime Minister Justin Trudeau's participation in a Cabinet decision to use the charity he and his family have worked with to administer a C$900 million ($671.74 million) student grant program.

WE Charity disclosed earlier in July that from 2016-2020 it paid honoraria to Trudeau's mother, Margaret, amounting to C$250,000 for speaking at some 28 events, while his brother, Alexandre, received about C$32,000.

Trudeau and his wife, Sophie Gregoire Trudeau, have also regularly participated in the charity's events. (https://reut.rs/3jMGuVR)

Latest comments

What an MLM (multi level marketing) is for selling that's what an Multi Level Mgmt team is for managing a gov't. -- SAME with the USA's tramp. When these individual leaders start veering into their fantasy world things can VERY QUICKLY go into the wrong direction, at the cost of the whole country and its citizens and their childrens' future.
For instance: Tramp allowed Eastman Kodak an 800+ million (taxpayer sponsored) loan to produce what? Hydroxychloroquine !! , a drug that has proven in various laboratories to be not being effective. All this because Hydroxychloroquine works for Tramp. -- Every human is different and it is a fact that some meds don't work for some and not at all for others. So if Tramp happens to be fine with hydroxychloroquine then that drug is tramp's last hope to pull off a miracle by Nov 3rd, Good Luck, all at the taxpayer's costs. Who cares about the American taxpayers, right?
Black stain on Canada's leader so shortly after he lost the UN Security council membership, not long ago after lack of security caused the Nova Scotia mass shooting, and only within a couple of years after he was involved in a Larry Householder style bribery with SNC Lavalin a now bankrupt company formerly supported by taxpayer funds. OMG, Lack of oversight committees that tell the leaders what they can and can not do, that's where the errors lie. That's all it takes to keep leaders on the right track: Oversight committees that keep things rational. What an elevation meter is for an aircraft that's what an oversight committee or ombudsman is for a government. Without an elevation meter a pilot loses track of direction, position and needs to rely on visual cues
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