That's very helpful. This is where I'm trying to go. Where is the hole in the system in terms of what we see in the profit margins from the use of the credit card itself?
You mentioned in your testimony that there has to be notification by credit card companies about their policy changes. Does that come in the form of the written bill or the electronic one you get? What specifically do you have legislative authority over? Is it font size and whether it's highlighted? What type of financial literacy can you demand when credit cards and their companies unilaterally or with so-called “consent” make changes?
A lot of times, with many companies, if you didn't opt out, then you assume responsibility. It's a negative practice and negative option billing, really. What specifically can you demand from the credit cards—written, electronic or whatever—and how detailed is that notification when they change their financial arrangements?
I'll just conclude with this. I've been after Rogers and others with regard to this practice by telcos of changing the terms of their contract. What can you force them to do?