Mr. Speaker, my colleague from the Bloc made reference to the blossoming of payday lenders and payday loan companies in his riding. I can tell him that the same applies in my riding of Winnipeg Centre where these outfits are sprouting up like mushrooms and where low income people, poor people I believe, are being exploited by these companies because they cannot find basic financial services anywhere else in the country.
Does my colleague share this view with me that the government should crack down on the payday lenders who are charging exorbitant usurious rates of interest, criminal rates of interest, and that rather than simply regulating the payday loan industry, it should prosecute people who charge more than 60% interest per annum?