Madam Speaker, under the current model, banks do not have to pass on the savings right now. Interestingly enough, in testimony today, I asked about that. One of the officials talked about how our loan systems were going to be reduced, with respect to predatory financing, to 35% maximum. It is at 60% right now. I still could not get a proper answer with regard to what the penalties would be and the different issues that would take place if someone broke that law.
Ironically, the Government of Canada borrows around the Bank of Canada rate, but Canadians have to pay interest rates of up to 35%. With respect to fairness, how does that make sense? The government can borrow at a rate that is very low and is very much structured. Meanwhile rates are up to 35%, and on top of that, we still do not know the penalties and so forth.
The member for South Shore—St. Margarets raised the issue of Stripe not passing on the savings, and we will probably have some more work on that. That is a very important one because it has become rather iconic.