Yes. It's a good question.
I'll just ask this question once. It's for both of you, but I'll start with Ms. Mulholland, if that's okay.
Industry argues that the high rates they charge are necessary to cover the costs of higher-risk lending. In your view, don't these claims fall short when we examine the growth of the more affordable lending alternatives in the marketplace? What I mean by this is that I'm thinking of the small dollar loan programs at credit unions, the Canada Post MyMoney loan and small dollar loans in the fintech sector.
Ms. Mulholland, I'll turn to you first, if I could.