Mr. Speaker, the late Jack Layton raised a lot of attention to the practices of banks in our country, particularly the impact that banking practices had on poor people and people of limited income, seniors, young people, indigenous people, and people who lived in communities that were not well served by the conventional banking system.
Therefore, I am pleased to rise in the House to present a petition that has been assisted by the good people at Acorn Community association.
The petitioners call upon the House to examine banking practices to better ensure that people on low income and people who do not have access to conventional banking services are treated fairly. They point out that NSF fees on a $100 bounced cheque can cost $45 to $48, depending on the bank, and the interest on a $100 payday loan could cost $15 or $25, depending on the province.
These kinds of oppressive fees charged to people who can least afford them should be of concern to this Parliament and all members in it. I hope members of the House and the government listen to these concerns and take action as soon as possible.