Thank you for the question, Mr. Julian.
From our perspective the legislation touches only peripherally on the mandate we currently perform for the system. With this hearing and the discussions around us five, we saw the opportunity to have the committee consider one of two options.
One was to look at modifying the Bank Act section 455, which talks about the requirement for participation in dispute resolution services for consumers. Right now what's proposed contemplates the possibility of multiple providers in that space. Our concern is that would lock in the possibility of RBC, TD, and potentially other banks being able to choose their own providers and undermining the fundamental independence that we see as being so critical in dispute resolution in the sector.