Madam Speaker, I thank my colleague for his question, and I want to take this opportunity to talk about crisis management.
In my opinion, Desjardins' response is the gold standard. It acknowledged the thefts and sent a personal letter to its clients or, specifically, to the clients that had been affected. As a result, they were able to act very quickly.
There have been other situations. Equifax chose to cover up what happened to protect its reputation. The Bank of Montreal and CIBC did the same until the hackers themselves put a message online. There are dozens of similar examples.
Desjardins knows its clients. In all likelihood, it is other financial institutions, and not banks, that fall under federal jurisdiction. Once we identify the problem we can find a solution. The first solution is transparency.