Human Resources committee  We often come back to education, the educational aspect. Unavoidably, we have to go there. This aspect has to do with individuals. However, let me come back to the credit issuers. Money is lent out very easily, with very little study of each case. People end up with loans that are much too large and they cannot afford to make the repayments.

Human Resources committee  It is forbidden.

Human Resources committee  Payday loans are a fairly recent occurrence here. The people who take out these loans are often young couples, young people whose mortgage is well above their payment capability. They are between 25 and 40 years old and they are heavily in debt. They are the ones who will slide down the spiral.

Human Resources committee  In our circles, we often hear that this is a proposperous recommendation. And yet it's not that proposperous. It's no more ludicrous than suggesting a tax be collected from credit card issuers, and having that money turned over to consumer protection groups. So why not? Our most important recommendation, as I was saying to Mr.

Human Resources committee  Percentages.

Human Resources committee  We have not gone that far. Our coalition really examined the phenomenon of solicitation, or over-solicitation. In our opinion, this is an individual right: a person can say whether or not they need a credit card. We have to stop the harassment because it goes as far as people receiving credit cards in their name through the mail.

Human Resources committee  Right now, that is a way to get around the law.

Human Resources committee  Yes, of course. In our associations, there are three major aspects we work on: the remedial aspect, i.e. the immediate response, the preventive aspect and the educational aspect. Right now, about 90% of our work involves the remedial aspect. We're responding to an emergency. This is what's going on in our schools and in our hospitals.

Human Resources committee  Yes.

Human Resources committee  That was part of what I didn't have time to talk about.

Human Resources committee  People are always very surprised to find out what the legal interest rate is in Canada. It can go up to 60%. As you can imagine, it's not people with incomes like ours that are subjected to those rates; it's always the poorest among us. On Chambly Street, where our association offices are located, I can tell you that that type of lender can be found at every two or three doors.

Human Resources committee  Legislation is needed with regard to the 60% interest rate, which is reprehensible. In Quebec, we're at least slightly protected. There is caselaw that states that starting at 35%, the interest rate becomes abusive. Interest higher than that is not prohibited, but it is abusive.

Human Resources committee  The coalition and our association recommend that credit advertising and the canvassing be banned. If people want to obtain credit, they should apply to a financial institution. In addition, more education on the subject of credit is needed; money management classes should be reinstated in our schools; our associations should be equipped to offer more educational and preventive services free of charge to the public, and finally — we can always dream — credit agencies should be obliged to invest in education programs, just like those who sell alcoholic beverages.

Human Resources committee  Yes.

Human Resources committee  The ACEF of the south shore of Montreal will celebrate its 35th anniversary on October 19 of this year. In Quebec, the family education and consumer rights associations movement has existed, or should I say survived, for over 45 years. Our activities are offered to all consumers living on the territory of eight RCMs in the Montérégie region, which represents over one million people for five and a half workers.