Yes, under the Constitution, jurisdiction under the Bank Act for banking is exclusively federal jurisdiction. Bank customers are required, under the Bank Act's Cost of Borrowing Regulations, to receive clear disclosure and other aspects of the consumer disclosure that you're referring to.
The concern is that some consumers receive different disclosures of things like interest rates and fees under the federal and the provincial disclosure rules. It can be confusing. There is a possibility or a probability of confusion for consumers who receive these two potentially different types of disclosures, and the government's view is that confusion can weaken consumer protection. So bank customers should only receive disclosure as required under the Bank Act and thus bank customers in general will be able to achieve the same high quality—