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Monday, October 27, 2003 Mr. Pat Martin (Winnipeg Centre, NDP): Mr. Speaker, on the subject of ethics, I wonder if the Minister of Justice thinks it is ethical to charge 500% annual interest on loans, or even legal. That is what money marts and pawn shops charge now that the charter banks have abandoned their obligations to provide basic services to Canadians. In fact, 14 branches have closed in my riding alone. If the government cannot or will not bring the banks into line, will it at least begin to enforce the usury provisions of the Criminal Code and put an end to this outrageous exploitation of low income people in the inner cities of Winnipeg and other cities in Canada? Hon. Maurizio Bevilacqua (Secretary of State (International Financial Institutions), Lib.): Mr. Speaker, if the hon. member were to read Bill C-8, I am sure he would recognize that one of the major components of Bill C-8 is in fact consumer protection. Also, above and beyond that, we have created the Financial Consumer Agency of Canada to precisely address some of those key concerns, as well as generate the type of competitive environment required so that people have choices.
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