Finance committee  That would be any bank that is regulated under the Bank Act, regulated by the Financial Consumer Agency of Canada, or the banking regulator. There's a whole suite of banks, as well as that one new federal credit union.

Finance committee  Not at all.

Finance committee  To respond to the first question, the clarity is that federally chartered banks, under this legislation, should adopt and comply wholly with this comprehensive suite of consumer protection rules that exist here in the act. That is what they are being asked to comply with. Banks t

Finance committee  Could you repeat the third question? I missed the translation.

Finance committee  Without question, it would be operationally challenging and very costly, even if it was possible—because it is not clear whether it would even be possible for an entity to be subject to multiple rules for the same issue across the country—and it certainly wouldn't be in the consu

Finance committee  I am not sure if it's a minimum context. I would say that this is one comprehensive federal standard so that all Canadians, no matter where they reside, travel, or work, can expect that the banks will be held to account to ensure they have the same rights no matter where they go.

Finance committee  Let me step back and explain that the complaints handling process that exists now and is being enhanced under the amendments of this bill is strong, is convenient, is cost-effective in that there's no cost to a consumer, is timely, and it works well. The first step is clearly, li

Finance committee  Thank you for the question. From a policy point of view, not being a lawyer speaking for Justice, no, there is no lack of clarity. Even the court has ruled that Parliament and the Government of Canada have jurisdiction over banks and banking, and therefore all the regulation tha

Finance committee  That is correct.

Finance committee  Yes, I can. There was a Supreme Court decision, commonly referred to as the Marcotte decision, that ruled in a specific set of facts about foreign exchange fees and conversion fees, and whether those fees were portrayed in an appropriate way under both federal and provincial laws

Finance committee  The amendments proposed in this bill pertain only to federal regulation and federal legislation. They do not touch directly upon provincial regulation or legislation. Provincial rules will continue to apply where they apply and where they are appropriate. The amendments included

Finance committee  If I may answer, this goes back to the question that the previous member had. For a number of provisions that were previously in regulations, the main tenet was brought into legislation to provide a comprehensive view of all the consumer protections for Canadians. There are still

Finance committee  There are three types of amendments that are being made to move forward on the exclusivity provisions in the bill. There's a minor amendment to the preamble. There's an addition to the purpose clause about the intent of what the provisions are meant to cover. Then we are adding a

Finance committee  The preamble in this case already exists in the act, and it basically just provides more clarity on the intent of the act.

Finance committee  I think the key provision here is the paramountcy provision, which is an enforceable provision in the legislation. I think the purpose clause, and in turn the preamble, provide more clarity. Not being a lawyer, I can't speak for the Department of Justice on that issue before the