Thank you for your question.
The Public Interest Advocacy Centre (PIAC) deplores the fact that banks are not subject to the proposed amendment. The Canadian Bankers Association has apparently convinced the folks at the Department of Finance that statements are not bills.
In my view and that of the consumers we are representing, there is no difference between a statement and a bill. Perhaps this committee could propose an amendment to include statements. I don't think that will happen, but I still wanted to mention it.
In our report, we estimate that Canadians pay between $200,000 and $300,000 in annual fees for those statements. We deplore the fact that there is a difference between a statement and a bill.