Thank you very much, Mr. Chair. I know we don't have a lot of time here. I do have one quick question, and then I thought I'd share the rest of my time with Mr. Arthur, if he would like that.
My question is about the payday loan legislation, Bill C-26. There seems to be some confusion out there, so I was wondering if you could explain why provinces and territories are best suited to regulate the payday loans. Also, what happens if provinces choose not to regulate the payday loans in their jurisdictions?