Industry committee  We have nothing to do with the price setting--including interest--charged to cardholders, and we don't have anything to do with the price setting that acquirers charge to merchants.

Industry committee  The bank does it in compliance with the laws of Canada.

Industry committee  We worked with the FCAC voluntarily to produce model disclosures and simplified language for that purpose.

Industry committee  As I said in my statement, to compete against American Express and Visa, we offer programs that make it more attractive for issuers to go after those cardholders.

Finance committee  That would be the bank's decision.

Finance committee  Yes.

Finance committee  We make money when you spend money, not when you borrow money.

Finance committee  That's correct.

Finance committee  I didn't say it was simpler. There's going to be a variable value delivered to different merchants. For example, a gas station isn't going to experience the same increased sales that another merchant might. So we lowered the rate to recognize that there is a finite limit on the a

Finance committee  We have nothing to do with the price setting--including interest--charged to cardholders, and we don't have anything to do with the price setting that acquirers charge to merchants.

Finance committee  The bank does it in compliance with the laws of Canada.

Finance committee  We worked with the FCAC voluntarily to produce model disclosures and simplified language for that purpose.

Finance committee  As I said in my statement, to compete against American Express and Visa, we offer programs that make it more attractive for issuers to go after those cardholders.

Industry committee  Yes, there are several...[Technical Difficulty--Editor]

Industry committee  There are two pivotal works on this. One was done by the government accounting office in the United States. There was another work by the CRA. We provided copies to members of Parliament, but we will resubmit them to this committee, if you'd like. Both of them show that prices di