TD bank freezes Canadian trucker’s funded accounts: Situation Explained
TD bank, Toronto freezes two personal accounts with funds for ongoing protests against Canadian government.
TD bank freezes two accounts of Canadian truckers with the collection of fund money for unhindered maintenance of protests against COVID-19 measures that the Canadian government imposed.
TD bank or Toronto Dominion Bank is a Canadian Multinational. Its headquarters are in Toronto, Ontario.
What is the agitation due to which TD bank freezes accounts of Canadian truckers?
Canadian Truck drivers are the driving force behind the agitation. The Canadian truckers are renowned as ‘Freedom Convoy’. As per convoy’s lawyer Keith Wilson who spoke in behalf of them, the protest is against COVID-19 mandates that are unlawful orders. One of the major factor mandates vaccination for cross-border drivers.
The ongoing protest is the third week of its progress. They are carrying out the demonstration in the capital Ottawa. Also, they are blocking border crossing between US and Canada. Thus, this in turn is inducing a trade impasse.
Early in the morning on Saturday, force took to clear the protest.
Actions taken by TD bank and refund of donations
TD bank applies to Ontario Superior Court of Justice on Friday. They expect to have access to funds accumulated through GoFundMe and several bank transfers. Thus, it is with an intent to refund the amount to donors but it is failing to determine the entitlement of refunds.
A TD spokesperson says that one of the two frozen accounts received $1 million through GoFundMe. However, the another account received it through different bank transfer.
Though, the source of money through GoFundMe cannot be determined. GoFundMe informs that it shall refund the amount. Although, it took down the fund raising page on 4th February after it reached $10 million.
After this, protestors turned to GiveSendGo. Further, protestors managed to raised $11 million on it.
On Thursday, the Ontario Superior Court ordered to freeze funds raised by GiveSendGo.
Protestors’ lawyer will take the matter to court. He declares TD’s actions unlawful. Moreover, calls out the court for repealing the unlawful mandates.
