Mr. Speaker, my question is for the Secretary of State for International Financial Institutions.
The Canadian Imperial bank of Commerce is now selling postage stamps through 23 automatic teller machines in southern Ontario. If this becomes a common practice for the banks throughout all of Canada, some 1,700 small retailers that rely on stamps will find their businesses at risk.
Can the minister explain to the House why the government allowed the banks to get into this business when it is clearly not in the charter?