Mr. Chair, if you remember back a few months ago, we had the credit unions in here talking about the cost of new regulations that would come into effect this July 1. I did speak with a very small credit union in one of my areas. They said that right now, between FINTRAC and some of the other requirements federally, they're spending about $100,000 a year just to do the paperwork that is associated with the federal government.
We're seeing a lot of touchpoints on groups like credit unions and whatnot. I'm quite worried when I read, going back to Dominion Lending Centres, that they feel that further consolidation and lack of choice for consumers will be a result. Again, I have nothing against banks being able...but they just have different tools at their disposal and that makes me concerned about this policy.
Does anyone have anything else to say on that particular area?