Moneris Sold to U.S. Firm Sparks Sovereignty Fears | Toronto News

Two of Canada’s biggest banks are offloading their jointly owned payment giant Moneris — which handles one in three Canadian transactions — to a U.S. private equity firm for $2 billion, sparking urgent concerns over digital sovereignty and privacy. With sensitive consumer data now potentially under foreign control, experts warn that American authorities could access Canadians’ spending habits, even affecting border crossings or trade negotiations. While new privacy laws like Bill C-36 are in the works, critics say they fall short. The deal, pending regulatory approval, is expected to close by early 2027 — leaving Canadians questioning who really controls their digital future. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/f7aef82849d7ce98