Mr. Speaker, the Liberals just cannot help themselves. They love picking winners and losers by imposing big-government regulations. Now the Liberals are targeting credit unions by prohibiting their use of the terms “bank” and “banking”. This means if a credit union uses a term like “personal banking” or “online banking” in their promotions, they run afoul of the rules and could face penalties between $500,000 and $5 million.
Could the finance minister explain to Canadians why his government is being so petty in the targeting of credit unions? Is it because all of his friends on Bay Street are telling him to do this?