moved for leave to introduce Bill C-289, an act to amend the Bank Act and the Statistics Act (equity in community reinvestment).
Mr. Speaker, I would like to begin by indicating that this bill is inspired by an act that has been in existence in the United States since 1977, called the community reinvestment act. The purpose of this bill is to require banks to reach, to all intents and purposes, a better balance between the deposits they receive and the loans they make, particularly where disadvantaged communities are concerned.
I hope this bill will receive unanimous consent in this House.
(Motions deemed adopted, bill read the first time and printed)