Thank you. I'll be brief.
Since 1984 I've never seen the FCAC name and shame anyone. In fact, until I had heard about this committee, I had never heard of the FCAC doing much of anything. The official banking ombudsman, OBSI, did name and shame companies, and they got their knuckles rapped for doing that. Certain companies unilaterally fired them and said they would not deal with the official banking ombudsman. Then they went out and hired their own referees who gave more favourable opinions and did not name and shame. That's the example of the double bind that the regulators are put in. It's exactly the situation that the bank employees are put in: “Either do what we say or else you're fired.”
The official banking ombudsman was neutered, effectively fired, and the FCAC stepped in as if they could or would do that. I've been waiting for 33 years.
Thank you