Mr. Speaker, Canadians have been struggling to make ends meet through the pandemic. At the same time, four of Canada’s big banks have raised service charges.
Small businesses that are struggling to stay afloat are being fleeced by excessive transaction fees. Despite low lending rates, the interest rates on credit cards remain high. Payday loan companies prey on the hardships of low-income Canadians.
All of these financial service providers continue to post record profits. Will the government rein in these exploitative corporations to protect Canadians and small businesses?