I'm familiar with the Quebec regime, but I'm not familiar enough to know whether.... I mean that knowing how effective the legislation has been in the field is hard to determine right now. We don't have good data on the impacts. Notionally, it seems like a good idea, but it's very difficult getting the industry, short of direct regulation, to adjust their rates to a more reasonable level. Banks, I think, regard credit cards as a very profitable and important part of their earning profile.
On December 5th, 2024. See this statement in context.