Happy Monday, everyone. I call this meeting to order.
Welcome to meeting number 142 of the House of Commons Standing Committee on Industry and Technology.
Before we begin, I would like to ask all members and other in-person participants to consult the small card on the table for guidelines to prevent audio feedback incidents. This is for the health and safety of the interpreters as well as everyone in this room.
Pursuant to the motion adopted on Thursday, September 19, 2024, the committee is resuming its study on credit card practises and regulations in Canada.
We are pleased to welcome today's witnesses, who are all participating in this meeting by video conference.
First of all, from the Bank of Montreal, we have Jennifer Douglas, who is head of North American retail and small business payments.
From the Canadian Imperial Bank of Commerce, we have Diane Ferri, senior vice-president, credit cards.
From the Royal Bank of Canada, we have Ramesh Siromani, executive vice-president, cards, payments and transformation.
From Scotiabank, we have D'Arcy McDonald, senior vice-president, payments and unsecured lending.
From TD Bank, we have Meg McKee, executive vice-president, Canadian card payments, loyalty and personal lending.
I want to welcome you all and thank you for taking part in this exercise.
Without further ado, I give the floor to Jennifer Douglas, from the Bank of Montreal, for five minutes.