The Candian government wants the country’s banks to identify, in customers’ bank statements when they receive the carbon rebate, that it is labelled as such.

Environment Minister Steven Guilbeault says the lack of a clear identifier is contributing to confusion about carbon price rebates, so he is going to change the law if he has to in order to force the big banks to identify the carbon rebate by name when doing direct deposits.

The first rebate deposits in 2022 were labelled very generically, which meant recipients had no idea why they were getting the money.

T-D and B-MO have adopted the government’s requested “CdaCarbonRebate” entry, R-B-C and Scotiabank say they couldn’t make the change in time for the rollout, and C-I-B-C is still calling it “Deposit Canada.”