Thank you.
Mr. Hatch, in your pre-budget submission, you said this:
The credit union sector is in the midst of a significant process of consolidation, as more and more credit unions come together to achieve the scale that will be needed in future years to meet the needs of members, invest in technology, and be compliant with the many regulations handed down from both levels of government.
Can you explain to us how the consolidation of credit unions might impact competition within the financial sector? What are the potential benefits and drawbacks?