Public Accounts committee  Thank you. I'm happy to respond to this question. The first part is on the progress. We're actually very happy to report the progress that has been made, which has been made in stages. There are links to the various materials that we already have on our website, many of which ar

Public Accounts committee  Sorry, I don't have any specific data on the impact on the student loans, but evaluation is something that we do for all of our tools over time. As I said, this was just introduced a year ago, so we're looking forward to conducting those evaluations.

Public Accounts committee  We do. We had some really interesting research that we published last year and that we continue to build on. It's identifying specific behaviours that make a difference in what we call financial well-being. This is self-reported. A couple of behaviours really shone as making a di

Public Accounts committee  Thank you. Good morning. Madam Chair, members of the Standing Committee on Public Accounts, thank you for inviting me to appear before you today. The Financial Consumer Agency of Canada is a federal agency that operates independently. We are primarily funded by the financial

Finance committee  Thinking about the two sides of our mandate, certainly the economic uncertainty and the economic stress created by COVID-19 put even more importance on our ability to assist Canadians in managing their financial affairs with knowledge and experience. Certainly what we're doing, a

Finance committee  Thank you very much.

Finance committee  I'm sorry. I was prepared to answer a different question. I honestly do not know. On the Netherlands, I don't know. We'd certainly be able to provide that information to you. There are two points. First of all, those results are not satisfactory. They're very concerning, and the

Finance committee  That's my understanding, yes.

Finance committee  It's hard for me to be completely categorical, but certainly the FCAC plays no role.

Finance committee  It's a good question. We define financial literacy as the knowledge, skills and confidence to manage your financial affairs appropriately. Of course, that will mean different things at different stages of your life. Your example is actually not that far off. While it would be rar

Finance committee  I think it's probably best for me to commit to provide you with that information that you requested, the more granular information and the differentiation among the various banks. As far as the credit cards are concerned and interest on outstanding balances, again, there are som

Finance committee  Yes, we would agree with you that it is high and it is of concern. I will point out, in fairness, that three-quarters of the complaints are dealt with successfully. The definition of “success” in the legislation is to the satisfaction of the consumer, so that is a very high succ

Finance committee  Yes. I'm really sorry, but I cannot answer that question. That's a level of operational detail on their business that I just don't know.

Finance committee  Maybe an example is a good way to answer that. I introduced myself to the head of the Office de la protection du consommateur when I first joined and then, as a result of COVID, we had occasion to communicate about credit ratings. This is a serious issue, of course, that we were

Finance committee  We do not regulate Desjardins as a financial entity, although we are interested. Quite often, they show leadership in things related to consumers, so we are quite keen. We meet with them from time to time to make sure we are exchanging information. The only official intersection