TORONTO: The Canadian Bankers Association (CBA) is in the midst of a full-blown media campaign to defend the country's five big banks - RBC, TD Bank, Scotiabank, BMO, and CIBC - which have come under political pressure to lend more money.

The banks CEOs met with Finance Minister Jim Flaherty on Monday, January 5th . The following day, Flaherty announced a new working group of bank and government officials to help with credit flow.

The bank ...