Madam Speaker, again I go back to the issue of credit unions and the common reporting standards.
Credit unions, as we heard right across the country in pre-budget consultations, have had extreme issues in dealing with some of these FATCA regulations. I believe we heard from Desjardins that they have to submit 300-plus separate reports while some other banks only have to produce one. These commons reporting standards will add to that, particularly to smaller credit unions.
The member heard the Canadian Credit Union Association request that the same kind of exemption for low risk, under 2%, assets that are held by a foreign national in a credit union be waived.
Will the member agree that we should be looking at trying to make the burden on these small credit unions less, to help grow our economy?