Thank you, Mr. Chair.
Welcome back, everyone.
Thank you, Mr. Kmiec, for this very diligent outline of a number of items that you would like to look at.
Looking at the list, a number of these items would be considered within the scope of the original motion plus the amendment Mr. Fergus put forward. I think there's a lot of meat, if I can use that term, that you've put down here that would be considered within the scope of the open banking study.
Second, I think the time frame that you look at is too stringent. The June 7 one provides us some needed flexibility.
This morning in the National Post they have some commentary on open banking—it's almost inevitable—and it goes through, quite nicely, why it's so important to look at open banking and examine how it's going to impact consumers with greater choice and competition, but with the caveat that we need to protect consumers' data and to ensure a robust system.
We spoke about the timeline, which I don't agree with, and a lot of the information you've listed would be within the scope of the open banking study. I believe the Senate is also taking a look at open banking. It is very important and very important to Canadians, especially middle-class Canadians who go to the bank every day for their banking needs. We need to ensure that we do some due diligence.
With regard to the travelling, Mr. Kmiec and Mr. Richards, as you all know, committees travel. We did that with regard to money laundering and terrorist financing. We travelled to London, England. We travelled to New York and Washington. Having those face-to-face meetings is quite important, especially when we're dealing with agencies equivalent to FINTRAC, such as the Department of Justice and so forth. We just won't get that on a video conference. You know that, and we know that. It's about using our resources and our time wisely.
With regard to the schedule, Mr. Kmiec, in terms of the number of meetings, we're here in February. We could start the open banking study soon. We could put a lot of extra time within the days that we are sitting with regard to this study as well. That would allow us to look at some of the issues you've identified; look at them judiciously and do the job that Canadians elected us in our ridings to do.