moved for leave to introduce Bill C-395, an act to amend the Bank Act.
Madam Speaker, it is a pleasure for me to introduce my private member's bill which would amend the Bank Act by increasing the amount of disclosure that a bank is required to provide its customers.
A number of banks in Canada offer their customers certain benefits which are not available to all of their customers. For example, some banks offer rebates on services to youth and seniors. Unfortunately most bank customers are completely unaware of the benefits to which they are entitled.
I believe my bill would remedy this situation by obligating banks to give notice to a customer of the bank regarding the benefits to which he or she is entitled. My bill would also prevent banks from charging any fee against an inactive bank account unless the bank first mailed a notice to the customer at least 30 days prior to its intention to charge the fee.
Taken together I believe these provisions would enhance consumer protection for Canada's bank customers.
(Motions deemed adopted, bill read the first time and printed.)