Mr. Speaker, I would first like to welcome the member as the newest member of our finance committee. I am sure over time there will be great contributions from the member. At the same time I thank the outgoing member, who brought forward this motion today, for his work over the years on the finance committee.
In reality the member has answered her own question. Banks have the ability to close branches separate and apart from the merger situation. We were looking at those sections to make sure that we were not contravening the existing law as we came to make our recommendations. There are provisions for closures, as the member knows. I mentioned that in my own remarks.
The report was about the procedures, the situation and the public interest on a merger situation. There are laws in place. The member has outlined what is happening in the country. We said in the report that when we have mergers, we are concerned. That is why we have a recommendation specifically on that point saying that merger applicants outline the manner in which the merged entity would ensure service to rural and remote communities where they are providing financial services at the time of the merger application. It is legal for a bank at this point to do that. Whether it is in the best interest of the community is an issue with the bank.
I think it is part of our jobs as representatives in each of our communities to have those discussions. That has gone on. I have been involved in certain discussions when it has affected my community. I will continue to be involved when it is appropriate to make sure that Canadians get the services.
There is a concern in the government. I am not speaking on behalf of the government but I am speaking on behalf of the committee which showed that it had concern specifically for this interest.