Mr. Speaker, while the Bank of Canada's lending rate has hit an all time low, credit card interest rates have hit an all time high. Retailers and small businesses are being hit with higher credit card fees, eliminating what little margins are made in this economic recession.
Meanwhile, with Visa and MasterCard planning to move into the debit market, fees will skyrocket even higher and more costs will be passed on to consumers.
The government cannot continue to allow Canadians to be gouged with fees. Why is the government sitting by and letting consumers get fleeced?