Mr. Speaker, I am more than happy to answer as best I can.
The first thing I need to make clear is that what we are talking about here today are the ATMs that are operated by our federally regulated financial institutions, the chartered banks. The ATMs that are privately owned in pubs or corner stores are in provincial jurisdiction. What we are talking about specifically are the financial institutions.
I have an account at a specific bank here in Canada, as most Canadians do, or a credit union, and I pay a monthly fee. I am going to make this number up. Say I pay $14.95 and I have 20 transactions that will I not be charged for. Once I go over that limit, even though I am using the same bank, the one that I am a member of, I get what is called a regular maintenance fee. The banks eliminate what they call a foreign fee. The foreign fee is actually a convenience fee, which is charged when using another bank's ATM. Then I have to pay a dollar for that, plus pay the other bank two bucks. It is starting to skyrocket out of control because it is unregulated. We need to hamper this and that is what this bill and motion are talking about today.