Evidence of meeting #81 for Finance in the 39th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was havens.
A recording is available from Parliament.
Conservative
The Chair Conservative Brian Pallister
Are there any other interventions?
To conclude, then, Madam Wasylycia-Leis.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
Thank you.
I appreciate the very brief discussion we've had on this issue; however, I feel we've not done our work as a committee to thoroughly investigate this matter or to live up to the spirit of the motion that we agreed to.
I would say to committee members that it was fine when folks were here to question people about what they assume to be the average cost for the banks, without any verification, and to be very critical of the suggestions that in fact there's a huge profit margin and price gouging. But then not to ask for the facts and to get the banks to in some way or another give us the information so that we can make that determination is an absolute abdication of responsibility.
We have a Bank Act for the very specific reason of holding banks to account, so that we represent the public's interests and we do our job as parliamentarians. For this committee not to even ask the banks for information pertaining to bank fees specifically relating to ATMs is, to me, just beyond comprehension, in terms of our role as members of Parliament.
I'm not saying we should ask them to break confidentiality. I'm not saying we should do something that's unheard of. The finance committee has in the past taken very seriously its responsibilities around the Bank Act and done thorough investigations.
Here, we have a request to simply get some basic information, to ask the banks to provide us with some information that's quite possible given the fact that, as the CBA has said to us clearly, there is no cross-subsidization between different departments of each bank. So it's not impossible. It's readily available. I'm not suggesting it be done to breach any privacy or secrecy or affect the competition between the banks. It is for us to do our job in terms of the fundamental role we have, which is to protect the public interest.
I would hope that members here would see the light of day and support this very basic motion.
Conservative
Conservative
The Chair Conservative Brian Pallister
We'll see you Thursday to continue our deliberations on the tax havens.
We are adjourned.