I suppose one of the reasons this is so tricky is that it is a shared jurisdictional subject matter.
Your Liberal colleague opposite, I believe, made two very concrete recommendations that I think should be pursued very seriously: limits on the amount of debt and more vigorous disclosure rules to ensure the issuing lender has a full picture of what the consumer has, in terms of debt. It's like a stress test, as they call it in banks. It's a stress test on a household to make sure they can pay it.
Then, look at it within the scope of federal regulations. You have a big opportunity to do something with federal regulations for banks. It remains to be seen how well provincial laws work, but we're looking to Quebec as an example of how the federal government can incorporate that at the federal level and bring those standards together into a harmonized system.
There's no reason why this should be happening. It's causing a lot of stress for Canadians.