Thank you for that. Marc-André and I had the pleasure of attending that conference and being on a panel with various members and hearing about the great goings-on, not only with our co-operative system here in Canada but also the one in the U.S., specifically the U.S. Midwest. It was great to hear; it was a great collaboration among many of us. It was just a great way to get things done. I am very pleased to have this in subdivision C, the bank terminology.
This question is for the credit unions but also for Mr. Braid.
Within the 2018 budget we listed four bullet points on modernizing the financial sector framework: flexibility for financial institutions to take investments in fintech, permitting life insurance companies to make long-term investments in infrastructure, the credit union changes, and reviewing the sunset date in the federal financial institutions statutes.
Peter, I'm in full agreement with you. I believe that separation at the point of origination should still exist. We need to maintain a competitive landscape for consumers, and it applies to credit unions. In terms of banking terminology, we need to maintain the competitive landscape.
In your view, with fintech changing the landscape every day, how should our framework change for financial institutions to adapt to what's going on in the world?