Madam Speaker, I thank the member for his question and I welcome him to this country.
As in other areas, matters that affect consumers are usually a provincial responsibility. But I will not use that excuse.
The banking sector is evolving. We had the courage to make changes and introduce regulations. In addition, we introduced into the bill a provision requiring the legislation to be reviewed every five years. Every time a change is made to tighten up the financial sector, new products become available. The financial sector is evolving and that is quite acceptable. Yes, there are always problems. That is why we are prepared to undertake consultations. We have amended the legislation every time the opportunity has presented itself.
I would like to correct the hon. member. He said that we did nothing for consumers. We established the Financial Consumer Agency of Canada, which accepts complaints. The sector is always evolving and I hope that we can solve the credit card problem.