Debates of Feb. 3rd, 2014

Opposition Motion—ATM Fees

[Judy Sgro, Liberal, York West, ON]

Mr. Speaker, every time I see someone using a white label ATM, the one with the $8 fee, it always seems to be the very people who can least afford it. It is why I go back to the issue of educating the Canadian public on the difference.

I know that when people use the machine, it says they are going to get hit with a certain fee, but it is always the poorer person who is not well enough to walk the distance who ends up using these machines.

It would be a very good thing for the government to take a serious look at the motion we are debating today and how it can, without removing choice and interfering in competition, attempt to regulate a more reasonable fee and to have some consistency across the country.

[Linda Duncan, NDP, Edmonton Strathcona, AB]

Mr. Speaker, I am very troubled in this debate. The Conservatives seem to be arguing against this motion calling for a reduction in user fees for ATMs by quoting data from the Canadian Bankers Association. We need to recall that the office of consumer and corporate affairs, which does not exist any more, used to monitor these costs. We had government actually governing and oversight on behalf of consumers.

It is deeply troubling that the government would turn to the bankers who, by the way, apparently reported more than a $30 billion profit last year. We know that Canadian families are suffering under record family debt. Compare that to the $30 billion and they lose a lot of credibility, and oh, the poor bankers will have to shut down ATMs if we lower the fees. There is a real lack of credibility.

There has been some criticism that the motion is too narrow. Would the member like to speak to the fact that it is a critical role of government to protect Canadian consumers and make sure that there are not overly usurious rates imposed on them?

[Judy Sgro, Liberal, York West, ON]

Mr. Speaker, I am very much aware of the role of the federal government because it was a Liberal government that brought in the current rules we are dealing with, as far as protecting people from being gouged by the banks is concerned. I think we have all been through that experience over the years of arguments with the banks, as they make their billions of dollars and are nickel-and-diming each and every one of us as we use their facilities. It was the previous Liberal government that brought in the changes that protect consumers, capped the fees, and worked out the current regime we are working under.

The issue of the white label ATMs and the $8 is one that was nonexistent at the time and is clearly an opportunity for the government to look at to ensure that consumers have choice and that smaller communities have access without having to pay ridiculous fees.

[Marie-Claude Morin, NDP, Saint-Hyacinthe—Bagot, QC]

Mr. Speaker, before I begin, I should say that I will be sharing my time with my hon. colleague from Timmins—James Bay.

I am pleased to rise here today on the opposition day motion moved by my very competent colleague, the member for Sudbury. I will read the motion, because sometimes when we begin a debate, we lose track of the issue and forget what we are debating:

That, in the opinion of the House, Canadian consumers face unfair Automated Teller Machine (ATM) fees as a result of an uncompetitive marketplace and that the House call on the government to take action in Budget 2014 to protect consumers by limiting ATM fees.

Thus, it is pretty straightforward. We are calling for concrete action to protect consumers.

To put this into context, ATM fees have been charged in Canada since 1996, that is, for the past 18 years. However, surcharging is not regulated. There are absolutely no regulations to protect consumers.

Banks can charge whatever fees they want for transactions that people make to access their hard-earned money. That really is a problem. Furthermore, since 1996, these unwarranted fees have been rising steadily. There are administrative fees, but they are not very high. I will come back to that later.

People currently pay up to $6 per transaction to access their money. In my opinion, that is unacceptable. My colleague from Timmins—James Bay and the NDP clearly agree with me.

Let us talk about household debt. We know very well that setting a limit on ATM fees is not the magic solution to household debt. However, it would help a lot. The cost of living goes up every year, whereas incomes have declined by 7% in the past little while.

Paying $6 to access one's own money is irritating. It hits people in their pocketbooks. A $6 charge may seem small, but several $6 charges in one month can blow the budget and force people to buy lower-quality food. That is a problem.

Once again, the middle class and low-income people are paying the price. The government is squeezing the middle class more and more.

As I was saying earlier, several measures are needed in order to address household debt. Quality jobs must be created. We agree with that. In addition, workers' incomes must increase.

There are a number of other possible solutions. However, what we are proposing is very important and is part of a set of solutions that can help consumers.

We must put a stop to these bank practices that exploit consumers.

According to the former governor of the Bank of Canada, Mark Carney, household debt could be the biggest and most immediate threat to the Canadian economy. It could spur the government to take action. I do not know. We cannot ignore this important aspect of the Canadian economy. Right now, household debt has reached an all-time high of 166% of income. This means that when someone earns $100, they owe $166. I do not think I need a more concrete example. These figures give a good idea of the situation.

There is every reason to believe that consumers, especially those in the middle class, have reached their limit. Right now, Canadian household debt is at around the same level as U.S. household debt before the 2008 financial crisis. What else will it take for our government to take action? Finance is not my strong suit, but I know enough and I am smart enough to realize that this does not make sense. I am not the finance minister and I never will be, but if I were, I would take action.

Could we not give middle-class and low-income Canadians a break and make their lives a little easier, simpler and more affordable? People are tired of paying, and I understand. Right now, banks are allowed to charge Canadians nearly $6 per transaction. According to the best data we have, the average cost of a transaction is about 50¢. Someone is making a buck here, and it is not the middle class or low-income Canadians.

The Minister of Finance has made a few comments in the media and in the House about ATM user fees. I will quote him because I find this interesting. On March 6, 2007, he told the Toronto Star:

I tried to point out that, in my view, there are some legitimate concerns by Canadians on this subject, particularly seniors, students and persons with disabilities, many of whom have limited mobility so they don't have as much choice in terms of which banking machine they might be able to use.

Again in 2007, in reference to the NDP campaign in favour of banning fees— because the NDP has been working on this for a long time, even though it was not yet the official opposition—the Minister of Finance told the House of Commons Standing Committee on Finance, “...we also agreed [with the NDP] that the banks ought to do something in terms of consumers with respect to ATMs”.

On February 16, 2007, in the Globe and Mail, the Minister of Finance also said that he was not satisfied with the explanation from Canada's banks for why they charge a fee when other banks' customers use their automated teller machines, and he asked them to try harder.

The Minister of Finance clearly has concerns, but no concrete action has been taken since 2007. The problem existed well before then, but the government did not start talking about it until 2007. It talks about it, says that this is appalling and that we should perhaps do something about this problem because it is hard on the middle class, seniors and persons with disabilities, but it does nothing. There is a real problem. This would be a good opportunity for the government to finally do something for consumers and the middle class, but it is doing nothing.

I have more to say on this, but unfortunately my time has run out. I would be pleased to answer questions.

[Michelle Rempel, Conservative, Minister of State (Western Economic Diversification)]

Mr. Speaker, my colleague opposite talked about access for consumers. I wonder if she could discuss the price elasticity assumptions that her party has made around the point at which the price of this service would affect the supply. That is, at a certain point people will look at a substitute good for this product, so if we regulate this, would this somehow not only provide a disincentive to the service provision or supply but also profit in a going concern?

[Marie-Claude Morin, NDP, Saint-Hyacinthe—Bagot, QC]

Mr. Speaker, right now, services do not necessarily reflect the fees being charged. We are not asking that the banks suddenly close, fire their employees and force them into unemployment. We are also working on reforming employment insurance, which I wanted to mention as an interesting aside.

All we are asking is that the banks have a 50¢ ceiling. That is a reasonable limit for the banks; they can still make money. We know that these corporations must turn a profit; that makes sense. However, they do not need to crush the consumers who simply want access to their money at a decent price, which also makes complete sense.

[Kevin Lamoureux, Liberal, Winnipeg North, MB]

Mr. Speaker, no one would question the importance of consumer-related protection. In fact, history would show that as a government we have on numerous occasions moved into that whole area in terms of how it is we can best protect consumers.

My question is in regard to the motion we have before us today, which targets ATM fees. However, it is very specific in that it is talking about banking ATM fees.

If we take a look at the province of Manitoba, for example, we see we have more independent operator machines, which is where we get the huge costs of $5 or $6 to use one of those machines. I understand that to be provincial jurisdiction in terms of regulating.

Given the importance of the issue and the importance that the NDP has put on the issue today, I wonder if the member could provide the feedback she has received from the provincial government in Manitoba, which happens to be NDP, on how it has attempted to address this issue. Has it brought in regulation? Can the member inform us on how it has dealt with the bigger picture of those independent machines?

[Marie-Claude Morin, NDP, Saint-Hyacinthe—Bagot, QC]

Mr. Speaker, the NDP has always worked with the provinces, unlike what the government is currently doing. We have every intention of consulting the provinces on this project and working with them.

[Glenn Thibeault, NDP, Sudbury, ON]

Mr. Speaker, relating to the comments made earlier by my colleague from the Liberal Party, he forgets that it was his government that actually cut the consumer affairs ministry back in the 1990s. He also forgets and did not ask the question that relates to the very specifics of the provincial jurisdiction.

We are making sure we would lead by example at the federal level. However, the member is not recognizing that the banks are cutting branches in rural locations and small cities and putting in ATMs. This is forcing people to utilize ATMs rather than go to their banks.

One of the member's hon. colleagues talked about people being lazy. What about the disabled? What about seniors?

I would like to hear comments from my colleague that folks are not lazy but they are tired of Conservatives and Liberals forgetting about consumers and not addressing the important issues they are talking about each and every day.

[Marie-Claude Morin, NDP, Saint-Hyacinthe—Bagot, QC]

Mr. Speaker, I would like to thank the hon. member for his excellent question.

Yes, we are indeed seeing that the government is doing absolutely nothing to address this issue. We are also seeing that the most vulnerable members of our society are the ones who are penalized by all these measures taken by the banks and that the government is doing nothing to address. This affects a lot of people. I am talking about low-income and middle-class Canadians, seniors and people with disabilities. It also affects those who live in rural areas where, as my colleague said, branches are closing their doors, forcing people to use ATMs. Since people with disabilities have a harder time getting around, they use their card every time, instead of going to a bank.

That is often the case with the current government: it is the most vulnerable members of our society who are affected.

[Charlie Angus, NDP, Timmins—James Bay, ON]

Mr. Speaker, it is an honour, as always, to stand in this House to represent the great people of Timmins—James Bay and to speak to their concerns about the issues of affordability and fairness. Those at home who are watching from ridings like my own, very rural with a lot of senior citizens, will see the flip-flopping and back-flips from the Liberal Party and the Conservative Party. They desire that we do not debate this.

The Liberals said right off the bat that they thought it was very unfortunate we were debating this. They talk about the issues of choice and say we should not interfere in the wonderful marketplace. It is the same argument I hear from the Conservatives about the mythical land of Adam Smith, where we have the little baker and the little blacksmith and the market regulates itself. Then of course we have the little banker and the big dread hand of government coming in and squeezing down.

My colleague from the Liberal Party talked about the creation of a nanny state. It shows the incredible disconnect between the Liberals and Conservatives and what is happening with real Canadians right now in 2014. We have the highest record of household debt ever, at 166%. We have mortgage debt over $1.1 trillion. Consumer credit debt has reached $500 billion. Average debt for the average person is now about $30,000. This includes their credit card debt. It also includes their student loans and their car payments. The issue is that when people are being gouged by the banks, it hurts.

My colleagues keep talking. They are twisting themselves into knots today to try to hide behind high school economics text books as opposed to talking about what is happening in the real world.

When my daughters went down to Toronto to go to school, they tried to get bank accounts. The banks were not interested in their business. They needed this form and they needed that form, so they had to get support from back home through the caisse populaire. Thank God the caisse populaire was there to represent them. However, it means that when my daughters are in Toronto, they do their banking with their ATM cards because they do not have the banking services at hand.

In many of our regions the banks have pulled out because they are making record dollars. They made over $29.4 billion in profits. Of that, they are making $420 million in ATM fees. It is not worth it to them to service the little towns. It is not worth it to them to service senior citizens, so they will stick them with the ATM machine.

My colleagues in the Liberal and Conservative Parties say that people have a choice. Choice is a false word. Consumers have a choice, but suddenly they do not have banking services. When they have to get money out, it costs them $40. They are getting dinged sometimes $7 on hidden fees.

My colleagues, the Liberals and Conservatives, say people could make an informed choice, as though they think people are stupid and lazy and do not bother to look at the screen. When they look at the screen and it says it will cost $2.25 to take out their own money, the screen does not tell them about the hidden fees. People are being ripped off and people are being gouged.

My colleagues, the Conservatives and the Liberals, talk about how the whole system will collapse if we make any efforts to help consumers. Oh, my God, the ATM business will run out of business. We would be intervening in the marketplace, the dread marketplace. The Conservatives intervene, by the way, any time they feel it will help their friends in the oil patch; they are more than willing to intervene in the marketplace. However, when it comes to helping the senior citizens who are getting gouged $7 to take $40 out to buy their groceries, oh my God, they see the dread hand of the socialists stepping in.

Let us look at other markets. I was just in the United Kingdom where they do not have ATM fees. There is no shortage of ATM machines; they are all over the place, and all over Europe, where they have dealt with this. That is not to say there should not be a fee, because it is a service and people pay for a service, but the question is this. When a person goes to an ATM and the regular account fee is $1—$1 on $40, okay—that seems fair, but then they get the network access fee, which is another $1.90 on top of that, so now it is $2.90. Then there is the convenience fee of another $5.

Both the Conservatives and the Liberals have been saying it is so important to protect the concept of convenience. They tell the consumers that when they go to their local corner store and they do not have a bank, and they try to get $40 out, it is a convenience. It is not a convenience to the consumer; it is a convenience to the banks, because they are getting 40% off consumers.

It is a rip-off. It is a gouge. However, we do not hear them say that. They will say anything else other than it is a gouge, because their heart, fundamentally, is with the people who are doing the gouging. That is where they feel more comfortable. If people are getting gouged, well, that is the wonder of the market, the great thing about consumer choice. If people have no bank, that is where they have to go, and they get gouged. Is capitalism not a beautiful thing? We should all hug it every single day.

We have seen the failure of the big banks to live up to the social contract and to represent fairness. They can still have record profits and they will still have record profits, but I find it unconscionable that in this day and age someone could be charged $7 to take out $20.

The Liberals have never pretended to be consumer friendly, so I am not going to worry too much about them. However, we see the Conservatives have been on the road to Damascus and have suddenly decided that consumer issues are important, so they have taken out some TV ads to beat up the telecoms. They will not do anything about it, but they will make them the enemy. However, the Conservatives will not do anything.

We have the big, tough finance minister, who was going to go in and read the riot act to the banks. Do members remember that? It was in 2007. A Toronto Star editorial said that for several months the finance minister has told the banks that he was not satisfied with their explanations. Whatever the banks did, the consumers wanted answers.

Then, of course, the Minister of Finance went in, in March 2007. It was his big showdown with the banks. He was going to stand up for consumers. He stood up, all right. He came out like a schoolboy after seeing the nuns. We never heard anything more about it after that. The banks continued on.

What we are talking about is the rightful place of the federal government. The federal government has a role. This is not interfering in the market; it is about establishing certain standards of fairness.

What we have seen with continual deregulation is this idea that if there is deregulation, if the industries are allowed to look after themselves, there will be more choice, and prices will drop. We actually do not see prices dropping; we see prices going up because they can gouge more. As well, because we have a government that does not want to stand up for consumers, the gouging gets higher and higher.

My colleagues on the other side always talk about price elasticity and at what point the whole market falls apart. I have not heard the elasticity of the government's backbone on at what point the gouging becomes unacceptable. Personally, I think that when it costs $5 for a convenience fee on top of the other $1.90 and the other $1 that are being charged, that is not acceptable addition.

What we are talking about here are some very simple practical steps.

It is getting more and more difficult for people in my community to get by. For young people, paying off $50,000 on their student loans coming out school is an enormous burden that was not there when my generation was at university age. Senior citizens are getting ripped off on their hydro rates in Ontario. They are paying through the nose for their own hydro when Ontario creates the cheapest hydro in the world, dumps it on other markets, and then forces senior citizens in northern Ontario to pay through the nose so that we can cover off the fact that the Liberals decided that they would gouge consumers for $1 billion for two gas plants in their own backyards. People in my region think that is criminal.

Senior citizens tell me that they cannot pay their hydro bills because of the Liberal smart meters. In northern Ontario, smart meters have shown pretty clearly how dumb they are. People are paying double what they used to pay for electricity. We know we are creating hydro in northern Ontario at 5¢, 6¢, and 7¢ a kilowatt hour, and people are paying 40¢ for it. That is people being gouged.

Do people want a little bit a fairness? They certainly do. When they go to the banks, they want to know that the dollars they have in their pension cheque or in their savings are going to stretch as far as they can.

I am asking my hon. colleagues to do the right thing and think of the people back home. As they say in the big McDonald's ads, “You deserve a break today”, but I doubt we are going to hear it from the government and we are definitely not going to hear it from the Liberals. They are going to shove that Big Mac of consumer choice down our throat.

I would say that we should do the right thing and give people a break on these outrageous gouging and ATM fees.

[Michelle Rempel, Conservative, Minister of State (Western Economic Diversification)]

Mr. Speaker, one thing my colleague opposite and I share is that we are concerned about Canadian consumers and their ability to get jobs and we are concerned about creating economic growth. I would hope that we are concerned about that.

When a company makes a profit or, let us say, people make extra money in their households and have that money in their bank accounts—let us call it liquidity, being liquid—that allows people to be flexible in times of economic change. When it happens with companies, it allows them to retain jobs and make different investments. When we make profit and have liquidity, it means we have stronger economic resiliency in times of economic downturn.

Given that this is a basic economic principle—and I hope my colleague will not use the kind of rhetoric that he used in his speech to answer this question—what level of liquidity does he think it is appropriate for banks to have? What is the level of profit that we should regulate to? He brought it up. He insinuated that somehow what we are talking about today is the level of profit that a going concern should make. I am curious if he could argue what he and his party really think in terms of the appropriateness of going concerns being able to be economically resilient in times of downturn.

[Charlie Angus, NDP, Timmins—James Bay, ON]

Mr. Speaker, it is quite a simple answer. I think that a 39.5% fee on a $20 withdrawal is outrageous. I would imagine that most Canadians think that is outrageous. I do not think the Conservatives say that; they say we have to look at liquidity in a downturn.

This is not about liquidity. We are talking about record profits year after year while credit is being cut off and the banks have not reinvested, yet they are charging upwards of 39.5% on an ATM withdrawal. I have not heard anybody on the Conservative side say that is unfair.

The question is the elasticity and liquidity of the Conservative base. I am sure that base does not believe in this, either. Does my hon. colleague not think that at a certain point, gouging people is wrong?

[Kevin Lamoureux, Liberal, Winnipeg North, MB]

Mr. Speaker, there are a number of points that I could challenge the member on with regard to some of his statements.

One thing Manitobans take great pride in is having the cheapest hydroelectricity rates in North America. There may be one state somewhere down south that might be a better, but he cannot stake the claim with regard to energy costs for the province of Ontario.

I find the member to be somewhat of a self-proclaimed consumer advocate. The reality is that there many consumer advocates in the House and definitely within the Liberal party caucus.

What seems to upset the member the most is the fact that there is a $7 fee for a $20 withdrawal. Those are the numbers the member used. The greatest abuse of that nature is not necessarily with the banks but with the independent operators of the machines, and that practice is provincially regulated.

My question to the member, being a self-proclaimed consumer advocate, is this. Can he tell us what the NDP provincial government has done to deal with the outrageous fees that he refers to, or does he believe the provinces have any role? Maybe he believes that the national NDP, if ever given the opportunity to govern, would put a 50¢ cap on provincially regulated institutions also.

[Charlie Angus, NDP, Timmins—James Bay, ON]

Mr. Speaker, I want to say that this a first. We should mark it down in the history book.

I want to thank my hon. colleague for his excellent observation. Yes, the cheapest hydro rates in North America are in the province of Manitoba, under a New Democratic government, because it understands the importance of having proper hydro rates, just as in the province of Quebec. If we look at Ontario under the Liberals, we see that people are being ripped off by a corrupt government that spent $1 billion moving two gas plants to save the rear ends of some Liberal MPPs and that then told every senior citizen in Ontario that they were going to pay for this for the next 20 years because they had to protect some Liberals in Ontario.

It is the first time ever, but I think the member is bang on the money. That is the difference between a good government in Manitoba and the corrupt, lazy Liberals in Ontario who are gouging our senior citizens into the ground.

[Andrew Saxton, Conservative, Parliamentary Secretary to the Minister of Finance]

Mr. Speaker, I appreciate this opportunity today to address the NDP's motion suggesting that our government is not concerned with protecting consumers. This could not be further from the truth. To make such a claim only shows that the member opposite does not understand how our government approaches the budget process.

To be clear, in every budget our government focuses on the priorities of Canadians. That means jobs, growth, and long-term prosperity. If members across the way took some time to read our government's budgets, they would realize that measures that benefit consumers underlie the priorities of Canadians and are featured prominently.

One of the most effective ways to help consumers is to maintain a low-tax environment. Our government has put tax relief at the core of all our budgets, and we have a proven record of continuously lowering taxes and tariffs to the benefit of all Canadians. Since coming to office in 2006, our government has reduced the goods and services tax from 7% to 5%, providing tax relief for all Canadians.

In addition, our government has introduced more than 160 tax relief measures, providing almost $160 billion in tax relief for Canadian families and individuals over a six-year period ending in 2013-14. Overall, these tax reductions have helped the average family of four to save close to $3,400 in taxes in 2014. What is more, the federal tax burden is at its lowest level in more than 50 years.

Clearly, our focus on reducing taxes for all Canadians has brought real and tangible results. While the NDP talks about standing up for consumers and Canadian families, our government has actually taken action and kept more money in the pockets of hard-working Canadians.

Shamefully, the NDP has voted against all of our tax reductions. Those members repeatedly voted against consumer protection and had the audacity to present themselves as being on the side of the consumer. It is simply unbelievable.

Unfortunately, not only has the NDP voted against all of our tax cuts, but those members have also opposed all of the consumer protection measures we have introduced. Let me repeat that: they have opposed all of the consumer protection measures we have introduced. I wish that rather than advocating higher taxes, such as their $20 billion carbon tax, the NDP would congratulate us as we stand up for consumers.

Our Conservative government has consistently put the interests of consumers at the core of our decisions. This includes making the right decision to create more choice in the wireless sector, which has resulted in lower wireless rates and more jobs in the industry.

We listened to Canadians who demanded that measurements at the gas pumps accurately reflect what they are paying for. We responded with regulations for fairness at the pump to protect consumers from inaccurate measurements when purchasing gasoline.

Our government introduced anti-spam legislation that would make the online marketplace safer for businesses and consumers.

We implemented stronger labelling regulations so that Canadians can rest assured that they are not being misled when purchasing drugs.

We have also taken action on copyright modernization to balance the rights of consumers and creators.

Furthermore, our government has ensured greater fairness in airline advertising so that consumers can feel more confident they are getting what they paid for.

The list goes on and on.

We have also taken action to help consumers when dealing with financial services and products. Unlike the NDP, our government recognizes that in today's fast-paced world, financial services and products such as credit cards, mortgage agreements, bank statements, and more are becoming increasingly more complex to navigate. For this reason, our Conservative government believes that consumers of these products should be presented with clear information so that they know the terms and conditions around using these products. That is why our government introduced targeted measures in 2006 to make financial products more consumer friendly. Let me quickly share some of these with members today.

Our government is protecting consumers with new disclosure rules around credit cards and regulations that outlaw other anti-consumer business practices. We are developing a financial consumer code that will better protect consumers of financial products and ensure that they have the information they need to make responsible financial decisions. This code will reflect the realities of increased use of electronic financial products as well as respond to the needs of those requiring unique assistance, such as seniors and people with disabilities.

Our government is bringing in a code of conduct for the credit- and debit-card industry to help small businesses deal with unfair practices, which would help ensure fairness, encourage real choice and competition, and protect small businesses from rising costs. It is shortening the cheque-holding periods and ensuring immediate access to the first $100 of a cheque and protecting Canadians from predatory payday loan companies by working with provincial governments to regulate such institutions to better protect vulnerable Canadians. We are more than doubling the maximum fine on financial institutions that violate consumer provisions, from $200,000 to $0.5 million. Our government is better protecting Canadians using prepaid cards issued by federally regulated banks, with increased transparency and new consumer protection rules, and so much more.

Allow me to unpack some of these measures, all of which are tangible ways our government is helping consumers every day, and all of which the New Democrats have opposed. In order to help Canadian borrowers better manage their finances, regulations relating to credit agreements, including lines of credit and credit cards, came into force in 2010. These regulations limit business practices that are not beneficial to consumers, and require the provision of clear and timely information to Canadians about credit products, with a particular emphasis on credit cards.

To name a few, the regulations specifically mandate an effective minimum 21-day, interest-free grace period on all new credit card purchases when a customer pays the outstanding balance in full. They lower interest costs by mandating allocations of payments in favour of the consumer, and limit debt-collection practices that financial institutions use in contacting a consumer to collect on a debt. The regulations prohibit over-the-limit fees solely arising from holds placed by merchants; mandate advance disclosure of interest-rate increases prior to their taking effect, even if this information had been included in the credit contract; and require that any disclosure be made by a federally regulated financial institution in language presented in a manner that is clear, simple, and not misleading.

In addition, in budget 2011, our Conservative government proposed to develop measures to enhance the consumer protection framework with respect to payment network-branded prepaid cards. In order to support consumer awareness and informed decision-making, the prepaid payment products regulations require federally regulated financial institutions to provide consumers with information that is clear, simple, and not misleading. The regulations require that institutions disclose fees in an information box that appears prominently on the exterior packaging. The regulations also require that information pertinent to the prepaid payment product’s use be available on the product, including where to access the full terms and conditions of use and a toll-free number to make a balance enquiry. Going even further, another regulation that came into force in 2012 deals with cheque-hold periods. The access to funds regulations provide Canadians with greater leverage for financial management by reducing the maximum cheque-hold period to four days from seven days for cheques of less than $1,500. The regulations also provide consumers with access to the first $100 within 24 hours.

However, wait; our initiatives go beyond law-making and regulation and include public outreach and education. Last year, our government passed the Financial Literacy Leader Act, a piece of legislation the NDP actually voted against. It provides for the appointment of a financial literacy leader within the Financial Consumer Agency of Canada. When the leader is appointed, they will collaborate and coordinate activities with stakeholders to contribute to and support initiatives that strengthen the financial literacy of Canadians in general, with a specific focus on the needs of seniors. This initiative will allow the government to broaden its efforts and help Canadians make informed choices for themselves and for their families. Indeed, it is when consumers have all the relevant information and when fees are clearly disclosed that consumers can make informed financial decisions. This is the cornerstone of any effective consumer protection framework, but not everything.

Another key element is competition. When consumers have more choice in the marketplace, they pay lower prices. This is basic economics that even the New Democrats should be able to understand. That is why our government has engaged the banking industry on the issue of ATM fees.

Indeed, we have highlighted that some consumers, such as seniors, those who are disabled, and students may not have had access to different banking options.

Several banks acknowledged our concerns and responded by expanding ATM access in or near colleges and universities to help students avoid fees; unveiling low-fee accounts for seniors and students; and improving access for the disabled.

However, we have not stopped there.

The NDP may not realize this, but the Federal Consumer Association of Canada, or the FCAC as it is frequently referred, is an entire federal agency devoted to consumer issues. The FCAC provides consumers with objective, reliable, and free information on banking costs, including the cost of ATM fees and how to avoid paying these fees.

Yet, that is not all. The FCAC has a number of resources for consumers on almost any consumer issue. For example, the FCAC can help consumers shop for the most suitable credit card, as well as banking packages, including low-cost accounts.

I would encourage the members opposite to take some time today to visit the FCAC website. If they were to do so, they would see how beneficial the resources are that the FCAC provides in order to help Canadians get answers to their banking questions.

While our government has a solid record on introducing measures to protect consumers, I would not want to give my NDP colleagues the impression that our government thinks the job is done. Quite the opposite, in fact.

Perhaps the NDP missed our government's recent Speech from the Throne. If the NDP had paid attention, it would have noticed a number of commitments by our government to further enhance affordability for Canadians. These include: ending “pay to pay” policies, so customers will not have to pay extra to receive paper bills; expanding no-cost basic banking services; working with the provinces and the territories to crack down on predatory payday lenders by supporting ongoing efforts to make consumer protection regimes more robust; empowering consumers by requiring disclosure of the cost of different payment methods; and taking further action to end geographic price discrimination against Canadians.

Clearly, it is this Conservative government that puts consumers first. While we are the ones who are actually finding solutions to the issues facing consumers, all the NDP can do is oppose measures that would actually help consumers.

For once, it would be refreshing to see the NDP actually support consumers, by standing to vote for our consumer protection measures.

[The Acting Speaker, Conservative, Barry Devolin]

Order, please.

The time for government orders has expired.

The hon. parliamentary secretary will have seven minutes remaining when this matter returns before the chamber, after question period.

Regional Development

[Rick Norlock, Conservative, Northumberland—Quinte West, ON]

Mr. Speaker, I recently announced $100,000 in funding from the eastern Ontario development program for the establishment of a gaming and entrepreneurship lab at the Idea Hub in Port Hope, Northumberland's business incubator.

Independent game development studios are part of a thriving and rapidly evolving industry in Ontario, an industry that is linked to a global market that is forecast to grow to $55 billion by 2015. This partnership of the Northumberland CFDC, the Idea Hub, the University of Ontario Institute of Technology, and the gaming and entrepreneurship lab will provide a facility where innovative products can be developed and brought to global markets.

Opening this April, the gaming and entrepreneurship lab will be a key resource for digital entrepreneurs in eastern Ontario.

Black History Month

[Tyrone Benskin, NDP, Jeanne-Le Ber, QC]

Mr. Speaker, Black History Month is a time when we remember the contributions of the people of African descent not only to this country but to the world. We remember the great works of the men and women of the arts and letters, such as Joseph Boulogne and Alexandre Dumas. We remember Ira Aldridge, Josephine Baker, Lorraine Hansberry, and Oscar Peterson. We celebrate Djanet Sears, Dany Laferrière, Austin Clarke, and Oliver Jones.

The men and women of science include Booker T. Washington, Rebecca Cole, Dr. Charles Drew, and Dr. Anderson Ruffin Abbott. We salute the pioneers who helped to build this new world, including Mathieu Da Costa, Jean-Baptiste Point du Sable, the loyalist settlers of Nova Scotia, and the settlers of Amber Valley and Salt Spring Island.

This is a small fraction of a vast history, but why is it important? It is important because by exploring our history, we begin to know ourselves.

To those not of the hue, I offer this. Knowing our history is for others to know their own, because our histories bind us. Black History Month is not simply the history of a people; it is part of the collective history of the world.

Hockeyville

[Gord Brown, Conservative, Leeds—Grenville, ON]

Mr. Speaker, on Saturday I was pleased to attend events in support of Prescott, Ontario's bid for the title of Kraft Hockeyville 2014. People in the community have embarked on a huge campaign to earn a spot in the nominations for the title, and have spent many hours outside in the cold and snow, holding parades and rallies.

Beyond the usual rallies and festivities associated with the bid for this title, members of the community are hoping to collect 2,014 Kraft food items for the Food For All food bank in their community. They are decorating their houses and other structures in the blue and yellow colours of the competition's sponsor.

Prescott's own NHL Hall of Famer, Leo Boivin, who played with the Boston Bruins and my team, the Toronto Maple Leafs, in the late 1950s and 1960s, and whose name graces the local arena, has thrown his support behind the group.

I encourage everyone to help support this group so that Prescott can win the title of Kraft Hockeyville 2014.

Prime Minister's Award for Teaching Excellence

[Wayne Easter, Liberal, Malpeque, PE]

Mr. Speaker, I rise to recognize and congratulate two P.E.I. educators, Richard Baker and Sandra Dennis. Both are recipients of this year's Prime Minister's Award for Teaching Excellence and Excellence in Early Childhood Education.

Mr. Baker, of Bluefield High School, received the certificate of excellence. A teacher, librarian, and coach, Mr. Baker helps his students to achieve their potential and to find school a positive experience. He has won numerous grants for his school, and engages his students to broaden their horizons.

Ms. Dennis, of Holland College Early Learning Centre, received a certificate of achievement. An educator who keeps her students excited to go to school in the morning, Ms. Dennis works tirelessly to keep parents involved in their children's early education and ensure that everyone feels welcome and enjoys school.

These certificates are evidence of their hard work and dedication to improving our children's education. On behalf of myself and the House, I extend to them our sincerest congratulations.

Winter Olympic Games

[Lois Brown, Conservative, Newmarket—Aurora, ON]

Mr. Speaker, Canadians are counting down the hours to the start of the 2014 Winter Olympic and Paralympic Games in Sochi. I would like to take this opportunity to wish two individuals from my riding of Newmarket—Aurora the very best on their quest for gold.

Figure skater Gabrielle Daleman, one of our youngest Olympians at 16, will be representing Canada as a member of the figure skating team. Huron Heights Warriors football alumni James McNaughton will compete as a member of our exciting four-man bobsled squad. Both earned their spots through determination, hard work, and the desire to be the best that they can possibly be.

To Gabrielle and James, all of Newmarket—Aurora will be encouraging you every step of the way on your historic journey. I wish the best of luck to the entire Canadian Olympic team in Sochi. We are proud of them.

Go, Canada, go!

Canada-U.S. Relations

[Alex Atamanenko, NDP, British Columbia Southern Interior, BC]

Mr. Speaker, as of July, the U.S. Foreign Account Tax Compliance Act, or FACTA, will require all Canadian financial institutions to provide the U.S. government with confidential financial information on Canadians deemed to be U.S. persons. Millions are affected. This includes Canadians who emigrated from the U.S. and their children born in Canada, and Canadian citizens who share accounts, investments or property with an American spouse, as well as small family-owned businesses in Canada with a U.S. family member.

Negotiations are being held behind closed doors with a complete lack of transparency. Our Minister of Finance is on the record saying that the Canada Revenue Agency will not collect U.S. tax liability or penalties on Canadian citizens.

However, we must do more. I call upon the Prime Minister to inform the U.S. President that Canadian financial institutions will not provide any financial disclosures about Canadian citizens to the U.S. Internal Revenue Agency.

This is not only a blatant violation of our constitutional rights and privacy, but also an attack on Canadian sovereignty.

Heart Month

[Mike Wallace, Conservative, Burlington, ON]

Mr. Speaker, February is Heart Month in Canada. Remarkable progress has been made tackling cardiovascular disease. In fact, death rates have declined by more than 75% over the past 60 years. This means that 90% of Canadians who have a heart attack and 80% who have a stroke will survive.

While this is great news, we cannot lose sight of the fact that heart disease and stroke are two of the three leading causes of death in Canada. Today, heart disease and stroke take one life every seven minutes.

The Heart and Stroke Foundation, thanks to its 140,000 dedicated volunteers and two million donors from across Canada, continues to make a real difference in reducing deaths and disability from heart disease and stroke.

We all have a part to play in helping Canadians live the healthiest lives possible. We need to support our constituents in their efforts to make the right choices for their health. By supporting the Heart and Stroke Foundation this February, we can make a real difference for all Canadians.

Francine Lalonde

[David Tilson, Conservative, Dufferin—Caledon, ON]

Mr. Speaker, as the president of the Canada-Europe Parliamentary Association, I rise to pay tribute to our former colleague and long-time member of Parliament, Francine Lalonde, who passed away from cancer on January 17.

Madame Lalonde was the association's vice-president from June 2006 to March 2008 and stayed involved as a member of the executive committee thereafter.

I travelled to Europe with Madame Lalonde on numerous occasions. She was always very well informed on the issues affecting relations between Canada and the European Union. I can say without hesitation that she served both Quebec and Canada well.

While she and I did not always agree on matters of Canadian politics, she was an able and engaged colleague when it came to our dealings with our elected counterparts in Europe.

On behalf of the members of the Canada-Europe Parliamentary Association, I wish to express my condolences to Madame Lalonde's family and friends.