Mr. Speaker, as the hon. member knows, individual banks have, over the course of the last year, appointed ombudsmen, one per bank.
However, this morning Mr. Michael Lauber was named as the first Canadian banking ombudsman overseeing the entire system. The specific goal of the first Canadian banking ombudsman is to ensure that the banks live up to their responsibilities to the small business community.
Mr. Lauber, who is not a banker, will report to the government and to the Canadian public on the results of his activities every three months. We certainly welcome this initiative by the bank.
Perhaps I could take this occasion to congratulate all members of the industry committee. This appointment in no small way is due to their concerns and the constant attention they have paid to this issue.