Mr. Speaker, as I have mentioned previously in the House, our Conservative government has shown a clear commitment to protecting Canadian consumers, particularly when it comes to financial and banking sectors. We understand that Canadian families use financial products and services every day, be it using a credit card when they are shopping, cashing a cheque, making a deposit at a bank or paying off their mortgages.
We believe Canadians deserve a system that is safe, secure and fair. That is why since 2006 we have enacted numerous measures to support consumers of financial products, measures that, unfortunately, the NDP actually opposed and voted against.
The list includes measures like: protecting consumers with new credit card rules; bringing in a code of conduct for the credit and debit card industry to help small businesses respond to unfair practices; banning negative option billing for financial products; and shortening the cheque holding period. Furthermore, we have made mortgage insurance more transparent, understandable and affordable. We have also created a task force on financial literacy to help consumers make the right financial choices and we have done much more.
In budget 2011, the next phase of Canada's economic action plan, we built on that record with more consumer-friendly measures that I will cite: banning unsolicited credit card checks; moving to protect consumers of prepaid cards; and beginning to implement the task force on financial literacy's recommendations. Again, the NDP voted against every one of those measures. In fact, with respect to the issue of the NDP member for Sudbury and what he asks about today, he voted against a very important solution. Specifically, he voted against the Sustaining Canada's Economic Recovery Act.
Currently the Bank Act requires all banks to have dedicated procedures and personnel in place to address consumer concerns and complaints. In addition, it also requires that banks belong to a third party dispute resolution body. However, there is a wide variation in terms of the procedures that are used, a concern shared by many consumers and our Conservative government.
To better protect Canadian consumers, the Sustaining Canada's Economic Recovery Act will force banks to belong to government approved, independent third party bodies, which the member of the NDP failed to recognize. It will also establish uniform regulatory standards for internal complaint procedures and give the Financial Consumer Agency of Canada the authority to monitor and enforce compliance. These are things perhaps the member of the NDP missed when he voted against such an important measure.
This will ensure that consumers receive consistent treatment and the highest level of protection. Despite the NDP opposition, we have passed that landmark legislation and are working to finalize regulations. Perhaps that explanation will allow the member to think more prudently when voting again on topics that might secure some protection for our Canadian consumers.