Thank you.
Mr. Lawford, you made a couple of specific recommendations. You talked about a U.S.-style electronic transfer act and the need for a better framework for electronic payment.
I come from small business, and this is a big area of concern for small businesses. Money seems to disappear in cyberspace, sometimes for days, on the wiring of money, and then it reappears in bank accounts.
At a panel here last week I asked the Canadian Bankers Association whether they felt they were in a position where they could self-regulate this, because they're actually benefiting on both ends of this by dragging their feet. They're both charging interest on lines of credit and collecting interest--in many cases it may be a loan that they're forwarding the proceeds for.
In your opinion, do they have any interest in self-regulating this area?