Canadian banks that refuse to identify the carbon rebate by name when doing direct deposits are forcing the government to change the law to make them do it, says Environment Minister Steven Guilbeault.

Guilbeault is taking the stand after Tuesday91裸聊视频檚 federal budget promised to amend the Financial Administration Act so government payments accepted for deposit at Canadian banks will carry whatever title the government wants.

91裸聊视频淭he fact that they haven91裸聊视频檛 been doing it now for many years led us to take this position,91裸聊视频� Guilbeault said.

His department has been battling with banks for almost two years over how carbon rebates are labelled when they are deposited directly into bank accounts.

The first rebate deposits in 2022 were labelled very generically 91裸聊视频� 91裸聊视频渇ederal payment91裸聊视频� and 91裸聊视频淓FT Canada,91裸聊视频� for example 91裸聊视频� which meant recipients had no idea why they were getting the money.

Some banks, but not all, have since amended their procedures to ensure bank statements reflect the measure91裸聊视频檚 new name: the 91裸聊视频淐anada Carbon Rebate.91裸聊视频�

TD and BMO have adopted the government91裸聊视频檚 requested 91裸聊视频淐daCarbonRebate91裸聊视频� entry, which fits the 15-character limit imposed by some banks.

However, RBC and Scotiabank were unable to make the change in time for the rollout, although both say they intend to update to the new name.

CIBC, meanwhile, is still calling it 91裸聊视频淒eposit Canada.91裸聊视频�

Guilbeault said the lack of a clear identifier isn91裸聊视频檛 the only thing fuelling confusion about carbon pricing, but is definitely part of the problem.

91裸聊视频淚 think we took it for granted that since people were receiving it, people knew they were receiving it,91裸聊视频� Guilbeault said.

91裸聊视频淲e91裸聊视频檝e come to discover over the last few months that it wasn91裸聊视频檛 the case, in part because it the way it was labelled 91裸聊视频� or mislabelled, I should say 91裸聊视频� by most financial institutions.91裸聊视频�

The government has struggled to fully explain the carbon price and the rebates since the policy began in 2019.

That has helped the Conservatives, fastidiously opposed to carbon pricing, in their unrelenting efforts to kill it off once and for all.

Changing the law wouldn91裸聊视频檛 just affect carbon rebates, but all government deposits, including child benefits, employment insurance and tax refunds.

Guilbeault rejected any suggestion the change would cost the banks money.

91裸聊视频淵ou can quote me on this: I have a really hard time believing the banks when they say that it91裸聊视频檚 going to cost them money,91裸聊视频� he said.

91裸聊视频淚 feel that, as a client, we should have the right to label this the way we feel it should be labelled and it91裸聊视频檚 not up to the banks to decide.91裸聊视频�

A spokeswoman for the Canadian Bankers Association had little to say about the proposed change.

91裸聊视频淏anks in Canada support measures that help build a strong and sustainable Canadian economy,91裸聊视频� Maggie Cheung said in a written statement.

91裸聊视频淲e will also review proposed amendments to the Financial Administration Act when they are presented, and what proposed changes to the Act would mean for banks and Canadians.91裸聊视频�

READ ALSO: