Mr. Speaker, it is a pleasure to rise on an issue on which Canadians need some accountability and on which the Minister of Finance can stick up for Canadians. We know that the Minister of Finance has been under a lot of pressure because of ethical questions related to his own financing and his connection to legislation in the House of Commons. A question I asked, and something he can act on, is about the financial impropriety of banks related to employees feeling pressure to sell Canadians products, which they do not feel is ethical. In fact, a CBC investigation brought forth a number of bank practices that are extremely disconcerting, from a public accountability point of view.
The finance minister has been under intense lobbying by the banks. Prior to his coming to this chamber, they already had a cozy relationship, from his previous private job. There has also been an issue of ethics and conflict of interest related to Morneau Shepell over a number of different pieces of legislation in the House of Commons.
I would ask the minister to take specific action on the predatory practices of the banks, not only in terms of a bad environment for people and their investments but because employees are being pressured to sell Canadians products that they do not think are in their best interest. Those products are investments and other elements related to people's finances.
The banks are using predatory practices to pressure the sale of a number of different products that are not helpful to Canadians. When people think they are going to the bank to get some type of service, not only do they face overcharging related to service charges but they find out that the premiums they are paying, some of the highest in the industrialized world, are not even giving them the internal support of the bank.
I would argue that these types of predatory practices, because they fall under the Bank Act, are something we should have seen from the government and the minister, given that they have been so compromised in relation to the ethical issues around the Minister of Finance.
When the minister responded to me, I was quite surprised that he talked about the Financial Consumer Agency of Canada. It is not an appropriate response, from the head of our finances, to say that we already have one little agency that will protect Canadians. We needed the Minister of Finance to say that he has been deluged by bank lobbyists in his office, in the government, and on the Hill. They clearly have influence.
It is a time for the minister and the government to step up, whether it is on payday loans or high credit card fees. We have some of the highest rates for small business in the industrialized world, and we cannot even move on that.
I am hoping today we hear about some type of backbone, especially given the compromised position of the government on this issue. Will the Liberals stand up for ordinary Canadians, especially since bank employees have been the whistleblowers?