Let me just emphasize to the honourable member that on a couple of occasions he has implied that a loosening of the current restrictions is being discussed. Let me be very clear that this is his assertion; I have not said that.
Apparently, we're meeting for nothing. I'll move to the large commercial banks who are profiteering off or squeezing Canadians during this public crisis. Credit card interest rates are still high from previous price-gouging levels. Despite numerous favours from the Liberals, there have not been significant changes. Vancity Savings Credit Union demonstrated leadership when it set credit card rates at zero. Will the government use its statutory powers and force the banks to offer the credit card relief that Vancity has already done?
The honourable minister.
Thank you, Mr. Chair. I would like to say that we recognize the challenges that Canadians face, especially with issues like credit card rates. That's exactly why we've been working on this issue since we came into office. We came to an agreement on interchange fees that was important for consumers. Most recently, during the COVID-19 crisis, we've negotiated with the banks and encouraged them, and they have come out with reductions in their credit card fees that are significant, and deferrals for customers