Finance committee  It is a bit difficult to answer your question because this was really a technical amendment. We had this rule in the past. Anybody could go to a bank branch in order to cash a cheque, even if this were not the individual's own branch. At one point, some people interpreted this rule to mean that the banks did not have to cash cheques free of charge in the client's branch.

Finance committee  This did happen from time to time, but generally speaking this was done by mistake. We did receive complaints in the past from people who had been charged. We acted on these complaints, because this was in fact against the law.

Finance committee  We are hoping that this measure will help people who really need their money. This could be a cheque from an employer. There are people who do not have much money and need it immediately because they are hungry or something along that line. Generally speaking, this will help those people who need their money and who otherwise would turn to other money suppliers charging much higher rates.

Finance committee  This will help the most vulnerable, but it will not help those people who do not have a bank account. In fact, you must have a bank account to be entitled to this service.

Finance committee  That still represents too many people, but it is a problem that is on the decline.

Finance committee  I do know that we did get some complaints; however, I do not believe that we received any recently.

Finance committee  Yes, we receive complaints.

Finance committee  As an agency affected by the legislation rather directly, we were consulted.

Finance committee  We started looking at credit cards well before 2010. We began looking into the matter when the agency was established in 2001. You are asking me whether or not consumers are complaining. Recently, there have not been as many complaints. There were quite a few in 2008 and 2009, when interest rates had dropped significantly but the credit card rates had remained at the same level.

Finance committee  I haven't heard anything specific, no.

Finance committee  Unfortunately, I can't answer your question directly, because that consultation would have been done by the Department of Finance and not by us. We don't get involved in the consultations around legislative reform.

Finance committee  Good afternoon. Thank you very much for inviting me here. My opening remarks will be short and will focus on the impact of Bill S-5 on FCAC. FCAC welcomes the changes the government is proposing to make to the Financial Consumer Agency of Canada Act. The changes are largely technical amendments or clarifications to existing provisions.

Finance committee  I don't know that side of it, but clearly financial advisers generally are sales people.

Finance committee  Oh, yes.

Finance committee  Oh, I have lots of ideas.