Mr. Chair, you know how accommodating I am. Accommodating, but not docile.
I would like to bring up something that seems important to me but that we have not yet dealt with in this debate on the fight against poverty. This is the matter of financial services.The National Council of Welfare has discussed it in its earlier reports.
Could you talk to us about access to microcredit? I come from a constituency in Montreal that is chronically disadvantaged. Where I come from, getting $300 or $400 to buy a household appliance, or to have one repaired, is extremely complicated. Banks are conspicuous by their absence in my area, and, if you can find one, they do not want to get involved with small loans. The credit unions will, but very reluctantly. The ACEFs have organized projects along these lines to help this segment of the population.
Several years ago, I went to the United States to study their Community Reinvestment Act. I was very surprised to learn that, in a society like the United States, financial institutions have had to report to an institution comparable to our Office of the Superintendent of Financial Institutions since 1977. They actually have to describe the way in which they plan to serve disadvantaged groups like the Hispanic and black communities with microcredit loans.
It seems to me that we cannot produce a serious study without recommendations on microcredit loans, and the role of financial institutions could play. If any of you would like to express ideas or make recommendations along these lines, I would love to hear them.