There's plenty of regulation in the Canadian Payments Association and whatnot. The question, I think, before this committee, and what the retailers want, is regulation of the interchange fees. The question is why? What's the problem? As far as I see, interchange fees have been stable in Canada for a long period of time. There's a strong economic rationale as to why you need interchange fees. My colleague has shown a large number of examples of cases in two-sided markets, and therefore I think there's an economic reason for it. There's no economic reason to regulate interchange fees.
On June 9th, 2009. See this statement in context.