Finance committee  No. Understood. To go back to the objective, first of all, the bill is intended first to have a very clear statement of intent by the federal government about having high standards to protect consumers. Second, it contains additional high standards that are being set in the bill

Finance committee  The times for dealing with the holding of funds were set indeed, and there is an intention to set those amounts. The legislation sets the number of days that the funds can be held. They must be released, for instance, within four days, but the amount of the cheque would be prescr

Finance committee  You are absolutely correct that there are, indeed, currently regulations on prepaid cards. What this provision does is move the key standard—the requirement that cards not expire—from the regulations into the legislation. There continues to be authority within the act to fine-tun

Finance committee  Yes, indeed. As you said, the banks did make a commitment to offer both low-cost and no-cost accounts. Putting it in the legislation just confirms that this is an important requirement. The government could, if it should wish in future, write regulations actually putting into re

Finance committee  Perhaps I could address that. First of all, this would apply only to prepaid cards that are offered by institutions, so in the case of Toys “R” Us those are cards that are covered by provincial authority. Nevertheless, the point you're making is equally valid still. The legisl