FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 31

Thursday, May 28, 2009

The Standing Committee on Finance met jointly with the Standing Committee on Industry, Science and Technology in a televised session at 3:30 p.m. this day, in Room 253-D, Centre Block, James Rajotte, Chair of the Standing Committee on Finance, and the Hon. Michael D. Chong, Chair of the Standing Committee on Industry, Science and Technology, presiding.

Members of the Committee present: Hon. Maxime Bernier, Robert Carrier, Bob Dechert, Daryl Kramp, Jean-Yves Laforest, Hon. John McKay, Ted Menzies, Thomas J. Mulcair, Massimo Pacetti, James Rajotte and Mike Wallace.

Acting Members present: Hon. Dan McTeague for Hon. John McCallum.

Members of the Standing Committee on Industry, Science and Technology present: Hon. Michael D. Chong, Siobhan Coady, Mike Lake, Anthony Rota, Dave Van Kesteren, Robert Vincent and Mike Wallace.

Acting Members present: Scott Andrews for Marc Garneau, Ève-Mary Thaï Thi Lac for Robert Bouchard and Glenn Thibeault for Brian Masse.

In attendance: Library of Parliament: Philippe Bergevin, Analyst ; Mark Mahabir, Analyst ; John Bulmer, Analyst.

Witnesses: Credit Union Central of Canada: Brigitte Goulard, Vice-President, Policy; Douglas Whalen, Director, Payments Policy. Canadian Bankers Association: Nancy Hughes Anthony, President and Chief Executive Officer; Terry Campbell, Vice-President, Policy. Canadian Imperial Bank of Commerce: Cheryl Longo, Senior Vice-President, Card Products, Retail Markets. BMO Financial Group: Mike Kitchen, Senior Vice-President, Product Management, Personal and Commercial Banking Canada. TD Canada Trust: James Sallas, Vice-President, Personal Lending and Credit Cards. Scotiabank: Rubina Salim-Havlin, Managing Director, Credit Cards. RBC Royal Bank: Cathy Honor, Head, Cards and Payments Solutions.

Pursuant to Standing Order 108(2) and the motion adopted by the Committee on Thursday, April 2, 2009, the Committee resumed its study of credit card interchange fees and the debit payment system in Canada.

Douglas Whalen, Nancy Hughes Antony, and Cathy Honor made statements and, with the other witnesses, answered questions.

At 5:35 p.m., the Committee adjourned to the call of the Chair.

Jean-François Pagé
Clerk of the Committee

2009/05/29 4:01 p.m.