I do think the code of conduct has been very useful and helpful in terms of helping to maintain our very low-cost debit card system here in Canada. We were threatened with Visa and MasterCard debit cards that would start to...that would be a percentage-based fee, even though the money would go directly from your account to the bank, of having these loyalty programs that would be built into the debit card system.
We have actually amongst the lowest debit card fees in the world, so I would say it has been very helpful in that regard. But as I said, we've been trying to rein in credit card fees since 2008, and they've just continued to grow and grow. Canadians, particularly higher-income Canadians, have become addicted to the benefits. It's come to the point where merchants, whether retail or restaurant, will lose the business if they say they'll only take cash. They really don't have any choice but to just accept these very, very high fees.
What we have determined, similar to the Competition Tribunal, is that a voluntary approach won't work. This is something that's been pursued since 2008. It's time for government to intervene.