Thank you, Mr. Chair.
I must admit that things can get a little confusing sometimes. On the one hand, I heard Mr. Généreux tell us, with good reason, that bank and credit card statements must be simplified. On the other hand, I heard Mr. Perkins say that the solution is to add 10 pages of information on the carbon tax. I have a hard time understanding that. As I said, fortunately for Quebeckers, the carbon tax doesn't apply in Quebec.
I'd like to ask Mr. White some questions about what Quebec has done, what the provinces can do and what the federal government must do that the provinces can't do.
As I understand it, consumer protection legislation comes under provincial jurisdiction, as do credit contracts, since contracts fall under civil law. The same is true for the definition of “usury” in these contracts, as well as for deferred payment contracts, which let people buy something and pay for it later, for example. All of that falls under provincial jurisdiction, so Quebec has had free rein to protect consumers. There's also An Act respecting financial services cooperatives, which applies to Desjardins.
So Quebec has been able to make significant progress on all these regulations to protect consumers, but they also enable consumers to make better decisions and informed financial decisions in this market, which, let's face it, is complex for the average person.
Mr. White, what measures does the federal government have the power to take to protect consumers when it comes to personal finances and credit and enable them to make better financial decisions?