Banks are making unprecedented profits, while consumers are getting gouged. That’s what the MP for Timmins-James Bay is saying about banks charging customers for basic transactions.
The NDP proposal calls for the end of pay-to-pay tactics, which is when banks charge for basic transactions and paper statements.
Charlie Angus says the NDP have scored a win. Parliament voted in favour of the proposal to end the extra fees. Angus says a mandatory financial code of conduct is stopping the practice, after Parliament voted in favour of the New Democrat proposal.
“The banks are making unprecedented profits. Meanwhile hardworking Canadians are getting unfairly gouged every time they try and pay a bill or get an update on their account. New Democrats aren’t afraid to take on the big interests to protect ordinary Canadians.”
The victory against the pay-to-pay tactics is part of a bigger fight for fairness. This is on top of the successful successful push for the federal tax to be removed from tampons, securing sufficient compensation for thalidomide survivors, greater protections for unpaid interns and our campaign to ban microbeads.
The NDP stresses that Tom Mulcair is fighting for the middle class.