Mr. Speaker, my hon. colleague is entirely correct that we actually both worked together on that case, which was a difficult case in one way but not in another.
It involved a constituent of mine whose parents had bought mortgage insurance. When one of the parents died, they thought they had mortgage insurance, only to find out that they did not because of the way the rules worked. It was a really huge shock to the family to find out after buying what they thought was protection or the ability pay off their mortgage with the insurance that it was in fact not worth the paper it was written on. It was worthless.
It is a very good example of how consumers can act in good faith and believe that they are operating the way they are meant to operate and are hopefully getting clear, honest and frank information from financial institutions, only to find out that, literally, the small print is so difficult to understand or the way it is being presented that they actually get ripped off.
That is a very good example of what the bill could have done. I know that we both wrote to the minister, raising this issue and urging that changes be made. It did involve provincial jurisdiction as well, but there was a federal role. It is a great example of the kind of thing that should have been done with this bill to protect consumers.
These are elderly people who put some money aside based on the belief they would be protected, only to find out that they got ripped off. When we hear these kinds of stories, and that is just one story, we realize that the system is not working properly. It is too bad that this bill is not focusing on the needs of those people and the fact that we could be helping them, if the bill were genuinely looking at consumer protection.