for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

RBC cuts ties with Canada's WE Charity following review

July 28 (Reuters) - Royal Bank of Canada 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. (reut.rs/3jMGuVR) ($1 = 1.3398 Canadian dollars) (Reporting by Ayanti Bera in Bengaluru; Editing by Devika Syamnath)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up