Thank you, Mr. Chair.
Thanks to the witnesses for being here.
Canada has a voluntary code of conduct for banks, and it's basically proved as useless as a glass hammer.
We see now the repercussions taking place with regard to the fees. When I questioned the BDC about this.... The BDC has been historically the bank of last investment when private banks have not provided the leverage or the borrowing rates for SMEs. I asked them about why they haven't looked at a credit card policy or credit card fee processing policy.
I'll start with Ms Kothawala.
Do you think that your members would take an uptake on the BDC if it provided a low-cost program for service fees similar to what's enjoyed from many other developed nations?
We are getting totally fleeced, and it's an inefficiency in the economy because the profit margins on transferring funds is not where the real work is being done. It's being done in your stores and the supply chain issue you're facing.