Thank you, Mr. Chair.
First, I would like to bring up a matter that has been brought to my attention by some of my constituents; it is about mortgage penalties in Canada.
I have done a little research and have found out that the Ombudsman for Banking Services and Investments (OBSI) opened 301 files in the quarter ending January 31, 2010, doubling the number of files dealing with mortgage penalties. In the climate of the government support to the banks during the crisis, changes were made to mortgage rates and one thing is clear: whether mortgage rates are going up or going down, the banks seem to be taking in significant amounts in mortgage penalties.
I was wondering if this has been looked at, given the many criticisms about it, and if you find the amounts unfair and too high at the moment. One suggested solution involved using interest-rate curves that are negotiated by the Bank of Canada and not by the chartered banks.
I wonder if there is a way to make changes along those lines in order to benefit consumers.