Mr. Speaker, this petition is signed by the people of Dubreuilville and White River, who are concerned that banks are shutting down in rural communities across the north. Last fall, RBC closed the only bank in Dubreuilville and in Massey.
The petitioners note that many Canadians do not have access to broadband Internet or reliable cell service to access online banking services. The petitioners add that many also prefer to conduct banking transactions in person.
The petitioners state that with no local option, people are being asked to travel to communities that actually have banks, which places them at unnecessary risk. For people in Dubreuilville, the closest bank is now one hour away. They are concerned that these bank closures can lead to economic instability. They also add that banks charge customers who want to switch to financial institutions that may be closer. They raise the fact that banks are posting record profits at the same time that they claim they cannot afford to maintain services in small communities.
The petitioners call on the government to work with federally regulated financial institutions to ensure that rural consumers and businesses have access to local banking services, and for the introduction of a three- to six-month penalty-free period to move financial business elsewhere when closures occur.