Finance committee  With respect to the clearing and settlement of transactions between financial institutions, essentially the rules that are promulgated by the CPA mirror the rules of the ACH systems. So from a processing perspective, our rules mirror one another, although the technologies are som

Finance committee  The batch system we utilize within the CPA has been relied upon for many years and has a number of advantages. First and foremost is efficiency. You're allowed to consolidate data from a number of sources and enter it into our system, so it's relatively inexpensive. To develop a

Finance committee  No, it does not. May I ask for clarification? Are you referring to the indemnity, the liability portion?

Finance committee  No.

Finance committee  That's a matter between the issuing financial institutions of VISA and VISA. It does not involve the CPA, and we were not involved in any of those discussions.

Finance committee  Within the CPA we have a number of rules that afford consumers recourse. In the case of bill payments, once the consumer has made a payment to a utility company, it cannot be reversed. But in those cases, it's unlikely that a fraudulent transaction will be made in order to pay my

Finance committee  If I may, just to supplement Mr. Legault's comment, with regard to the credit card systems, essentially there are three ways in which credit card statements at the end of the month can be paid. Many Canadians bank with a single financial institution. They also take a credit card