moved for leave to introduce Bill C-306, an act to amend the Bank Act (bank charges).
Mr. Speaker, I am pleased to introduce the Act to amend the Bank Act (bank charges).
This bill is important for several reasons. First, because it is the first bill I have introduced in the House. Second, I would like to tell you that this bill has its origins in Brome—Missisquoi. It came about because of a series of meetings I have been conducting for the past two years in the 42 municipalities in my riding.
On Monday nights I hold town hall meetings all across my riding. At two out of three of those meetings people have brought up the subject of bank charges. This proposed bill relates to the concerns of millions of Canadians. The banks should be considered a public service in relation to consumers.
This bill also calls for transparency. I think it is important that Canadian consumers be better informed about fee increases. They must also be more aware of the new service charges constantly being imposed on new products, as fast as the banking industry can think them up.
I will quickly review the bill's principles. The bill provides for a committee of the House to make a recommendation to the government regarding the introduction of regulations setting maximum charges.
(Motions deemed adopted, bill read the first time and printed)