Mr. Speaker, Interac is one of the most cost-effective modes of payment in Canada, but that is now at risk with MasterCard's announcement to enter the debit market.
At every turn, voluntary rules in the financial sector are flouted and exploited. Letting credit card companies co-badge cards and enter the debit market is currently forbidden under this government's voluntary code, but that is not stopping the credit card companies.
When will the minister recognize that his voluntary approach is not working, and when will he finally stand up for consumers and small businesses and put in place binding regulation that protects Canadians?