Consumer-led Banking Act

An Act respecting the implementation of a consumer-led banking system for Canadians


Ryan Williams  Conservative

Introduced as a private member’s bill. (These don’t often become law.)


Second reading (House), as of Nov. 9, 2023

Subscribe to a feed (what's a feed?) of speeches and votes in the House related to Bill C-365.


This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment imposes certain obligations on the Minister of Finance in relation to the implementation of open banking in Canada.


All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.

Consideration of Government Business No. 30Government Business No. 30—Proceedings on Bill C-56Government Orders

November 23rd, 2023 / 12:30 p.m.
See context


Glen Motz Conservative Medicine Hat—Cardston—Warner, AB

Madam Speaker, it is always an honour to rise in this place and represent the amazing people of Medicine Hat—Cardston—Warner, as well as all Canadians.

It is said that imitation is the sincerest form of flattery, but it is breathtaking just how desperate the Liberals have become. In the House of Commons, we are witnessing a curious trend: imitation disguised as Liberal innovation.

The recent flurry of activity from our Liberal counterparts presents a spectacle. It is desperation masquerading as originality.

It is really fascinating. The Liberals have hastily adopted common-sense Conservative strategies to cloak their actions as a remedy for affordability, all the while seeking recognition for ideas that were not theirs to begin with.

Unfortunately, their replica has flaws, and the Liberals know that they need to ram this legislation through before Canadians realize that it is nothing more than a cheap knock-off.

If the government is looking for another idea to steal from Conservatives, maybe it could finally decide to repeal the carbon taxes, which are the real reason Canadians are facing the soaring cost of living.

First, let us dissect the fabric of the Liberals' imitation. The Liberals’ newfound fascination with affordable living appears more as a last-ditch effort to mirror our common-sense Conservative initiatives, although it lacks the authenticity and the understanding required to genuinely address the woes of everyday Canadians.

This sudden adoption reeks of desperation. Maybe they have seen the polls. Maybe they are hearing in their ridings that the Conservatives are the only party putting forward common-sense ideas.

Maybe the Conservative message of common sense sounds good to them too, but their leadership comes down heavy-handedly when they vote in favour of our legislation, like the Liberal member for Avalon, who tried to do the right thing for his constituents initially, although he eventually betrayed them and caved to his master like a typical Liberal always does.

The government's thievery of Conservative ideas seems relentless. Were members aware that the fall economic statement contained no less than four Conservative private members’ bills?

For example, there is Bill C-323, an act to amend the Excise Tax Act with respect to mental health services, from the good doctor from Cumberland—Colchester. There is Bill C-318, an act to amend the Employment Insurance Act and the Canada Labour Code for adoptive and intended parents, from my friend, the member for Battlefords—Lloydminster. There is Bill C-294, an act to amend the Copyright Act, on interoperability, from my riding neighbour to the east, the member for Cypress Hills—Grasslands. There is Bill C-365, an act respecting the implementation of a consumer-led banking system for Canadians by the amazing member for Bay of Quinte.

While the Liberals eagerly snatch concepts from our playbook, they turn a blind eye to the actual root cause of the economic pains faced by Canadians: their out-of-control debt and deficits, out-of-control spending, a carbon tax that does not do anything for the environment, a rapid housing initiative that cannot build homes and inflation that results from all of their financial mismanagement.

These are the real culprits behind the soaring cost of living, behind escalating interest rates and the burdensome grocery store bills and fuel prices that burden the citizens of this country every day. Our Conservative blueprint for affordable living, particularly our Conservative leader’s building homes not bureaucracy act, stands as a testament to our commitment to the welfare of Canadians.

Our messaging, like the “bring it home” initiative, encapsulates not just slogans but a genuine drive to resolve the housing crisis plaguing our nation.

In contrast, the Liberals’ response to this crisis they partly crafted lacks the depth and innovation required for a lasting solution. Their plan, often confined within the boundaries of existing programs and reannouncements, fails to project a path forward. It is a patchwork of recycled notions rather than a blueprint for real, sustainable change, and they have no problem announcing the same promises over and over again with the same pompous Liberal attitude that most Canadians have grown tired of.

The question remains: Are the Liberals truly addressing the housing crisis or merely engaging in performative arts to mitigate the damage that their policies have caused and the fact that the vast majority of Canadians desire to see them removed from office? Their sudden attempt to provide solutions and then force them on Canadians seems more reactive than proactive, a calculated response to evade accountability rather than an earnest effort to rectify the havoc they created. I can only hope it means they are getting ready for an election.

Liberals may tout their actions as responsive and comprehensive, but in reality, they bear the marks of limited vision and failure of leadership.

The building homes not bureaucracy act, as presented by our Conservative leader Pierre Poilievre, is not just a set of words—

Consumer-Led Banking ActRoutine Proceedings

November 9th, 2023 / 10:20 a.m.
See context


Ryan Williams Conservative Bay of Quinte, ON

moved for leave to introduce Bill C-365, An Act respecting the implementation of a consumer-led banking system for Canadians.

Madam Speaker, Conservatives want to get Canadians back in control of their financial freedom. Right now, Canada's oligopoly of six banks controls 93% of Canadians' business. Those banks also have a monopoly on Canadians' financial data. Canadians do not own or control their financial data; the banks do.

Our common-sense plan, called consumer-led banking, would force the banks to give consumers back control of their financial data and, on their consent, share that with competitors who would fight for Canadian financial business. This would create competition, drive prices down and bring financial freedom to Canadian families.

If we compare Canadian banks to those in the U.K., right now, Canadians have bank fees that average $14.50 to $15 a month, average transactional fees of $1.40 and average overdraft fees of $25. In the U.K., which has this legislation, these fees cost zero dollars. Mortgage rates in the U.K. today average 5.99% versus Canada, which is 6.99%. That is a difference of 100 basis points.

Consumer-led banking legislation forces the government to stop dragging their heels and bring forward the second report on open banking, which has been sitting on the finance minister's desk since May and, within six months, to table common-sense, consumer-led banking legislation. This has been promised now for four years. In this way, Canadians, not the banks, can control their own financial data and financial future once again.

(Motions deemed adopted, bill read the first time and printed)