Madam Speaker, at the end, I would appreciate it if you would ask for consent to make this bill votable. I think you will find consent.
I thank the hon. members who took part in the debate, but a there were a number of pieces of misinformation. First, a bank is not a private enterprise, to the extent that we, as parliamentarians, vote supply for the operation of the Canada Deposit Insurance Corporation. It is important to know that, when a bank grants a loan, the risk factor is virtually nil because, according to the Superintendent of Financial Institutions, 90% of loans come under the Canada Deposit Insurance Corporation.
Second, I think parliamentarians must recognize that banks do not operate in underprivileged communities. It is not all charity. Our colleague from Prince George—Bulkley Valley said that banks in his riding were involved in the community. That may be, but the problem is that banks do not operate in underprivileged communities. That is great if they are involved in middle-class and upper-middle class communities, but they are non-existent in underprivileged communities.
Third, I thought for a moment that I was watching an episode of The Flintstones , so rock solid was the bias being conveyed. Contrary to what the parliamentary secretary said, the bill does not tell banks they have to grant loans to people if they are insolvent. The bill provides that they will assess loans and how to reinvest in their community. That is what community reinvestment is all about.
This is a reality that works for the United States, and I do not see why it could not be considered for Hochelaga—Maisonneuve and other ridings. We must not put words in the bill's mouth, so to speak. I think that our colleague from the NDP, the hon. member for Windsor West, has understood very well the essence of the bill.
Again, I think that we would be shirking our responsibilities, as parliamentarians, if we tried to ignore this issue. It is true that this is not a recommendation in the MacKay report. However, the fact that it was not mentioned in the report does not mean it would not be worthwhile.
In the early nineties, how many members were opposed to an employment equity act? Banks did not want such an act. Yet, the requirements are the same. They must determine the number of women, the number of members of minorities, the positions held, the salaries. If we let the market operate on its own, it is impossible to have greater equity, to have banks more involved in poor communities.
Yet, the Employment Equity Act did not result in banks having to shut down because they could not make it.
I could provide an example relating to social economy. In Quebec, there is an area about which the hon. member for Yukon said “Banks do not want to get involved in the recreation and tourism industry”. This is also true in large cities such as Montreal. Social economy is based on the firm belief that capital money can be used in areas that are neglected by conventional money.
In Quebec, for example, we created a whole support network for the elderly, that is home support services, which are part of the social economy. I clearly remember how, at the beginning, the doomsayers would say, “This is not possible, it will not work. Cooperatives cannot do that. If one cares about the social dimension, one cannot be a good manager”. Yet, after a few years, we are finding out that it is possible to have social concerns and, at the same time, be a good manager.
Perhaps the bill can be improved, as the Conservative member said, but I am asking all hon. members to start from the premise that we can work together on it, I am asking that it be referred to the committee and that each political party propose amendments that will make this better legislation.
I cannot imagine how horrible it would be for this bill to die on the Order Paper now, considering that it is before us for the third time and that all parliamentarians agree that banks behave in a reprehensible fashion in their communities.