The lowering of one fee will just be replaced by the banks' adding a new fee or increasing other fees. The banks have said that, although the bank official who said that to The Globe and Mail did not want to be named. As a result, the only solution is to regulate the banks as providers of essential banking services--services as essential as heat and hydro and telephone for living in today's society--as other essential service companies are regulated. That means you need to do an audit, looking back over the past 15 years and annually in the future, of the revenues the banks have received from each fee for each service and product, the cost the banks paid to provide each service and product--
On April 17th, 2007. See this statement in context.