moved for leave to introduce Bill C-255, An Act to amend the Bank Act (automated banking machine charges).
Mr. Speaker, the purpose of this bill is to amend the Bank Act to prohibit ATM fees. The bill would stop banks from charging their customers fees for transferring their money or account information through automated banking machines.
As we know, Canadian banks currently charge customers these fees for accessing their own money through the bank's own ATMs, other banks' ATMs and privately-owned machines. These fees, in our view, are excessive and unnecessary and are fees that could be easily waived by the banks.
During the present economic circumstances, it is more imperative than ever that we deal with the banks that refuse to pass on relief to consumers, and the bill would do just that. It would help the government do what it promised to do but failed to do. I believe all Canadians would benefit from this change, particularly those on tight budgets.
I urge all members to support this initiative.
(Motions deemed adopted, bill read the first time and printed)