Mr. Speaker, I rise to table two petitions today.
The first petition is from the good folks at ACORN, which is a community organization that gathered hundreds of signatures from people in Ontario. The petitioners note that low-income people in particular have difficulty accessing banking services, and are particularly susceptible to predatory lending from payday loan outlets. They say the payday loan industry is worth an estimated $2.5 billion annually, and that profit is coming out of the pockets of people who can least afford it.
Therefore, the petitioners call on the House of Commons to consider a number of things in its federally regulated approach to banking: to provide access to low-interest credit for emergencies, to lower fees on overdraft protections, and in particular, to offer alternatives to conventional banking, such as postal banking.