TWO NDP MPs fighting tight battles in their re-election bids used the closure of another Winnipeg bank branch to campaign for tighter banking laws yesterday. Judy Wasylycia-Leis, running in Winnipeg North, and Pat Martin, in Winnipeg Centre, stood outside the CIBC branch at Logan Avenue and Keewatin Street, to protest its closure.
"Today is a dark day for the community," Wasylycia-Leis said.
Campaign volunteers and community residents stood in the rain holding cardboard tombstones to represent the 11 banks that have closed in the North End in the last year, including four CIBC branches, two branches each of the Royal Bank, Toronto Dominion Bank and Bank of Montreal, and one Laurentian Bank.
"There is an absolute vote of non-confidence by the banks in the inner city of Winnipeg," Martin said. "It's not because they're not profitable. The banks have made record profits in that same time."
Both MPs are battling a Liberal opponent to win back their seat in the House of Commons. They said the Liberal government has ignored pleas to stabilize community banks by forcing banks to consult with communities before they decide to close a branch.
Currently the community has to ask the bank for a consultation and only after the closure announcement has been made.
"We have fought hard in Ottawa to force the Liberal government to address the issue," Wasylycia-Leis said.
Martin said he feels the charter banks are already violating the law, because they are given exclusive rights to provide banking services in return for ensuring communities have access to those services.
Wasylycia-Leis said in the area traditionally known as the North End -- between the railway tracks and Inkster Boulevard, and the Red River and McPhillips Street, there are no community bank branches still open.
"The neighbourhood bank has gone the way of the do-do bird," said Martin.
Wasylycia-Leis said she particularly worries about seniors, who can't get around as easily.
"Seniors can't get down to Polo Park and they are keeping their money under their mattresses," she said. "It's making them vulnerable."
Les Slingsby, holding one of the R.I.P. signs outside the branch yesterday, was sad yesterday to see his bank close.
"I've been a customer of this bank all my life," he said. "I hope after the election the new government will put new regulations into the banks so they will provide services and not just make profits."
