The clock may be ticking on bank-offered cashback

The announcement comes as federally regulated lenders begin to announce that they will stop offering cashback mortgage product in compliance with new OSFI guidelines. 

Many banks have been slowly winding down their cashback offerings, although the first of the official deadline starts October 31.

This week, Scotiabank was the latest to announce it will drop its Free Down Payment program 
on September 15.

Credit unions have not yet received any directive on the matter from DICO, but the general consensus is that the provincial regulating body will follow its federal counterpart eventually.