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INDU Committee Meeting

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Minutes of Proceedings

44th Parliament, 1st Session
Meeting 141
Thursday, October 24, 2024, 8:15 a.m. to 10:19 a.m.
Webcast
Presiding
Joël Lightbound, Chair (Liberal)

Library of Parliament
• Isaac Doucette, Analyst
• Dana Fan, Analyst
Conseil québécois du commerce de détail
• Alexandre Lampron, Director, Government Affairs
Convenience Industry Council of Canada
• Jeff Brownlee, Vice-President, Stakeholder Relations
Interac Corp.
• Bryan Bossin, Head, Government Relations and External Affairs
Stripe
• Brian Peters, Director, Public Policy
Pursuant to Standing Order 108(2) and the motion adopted by the committee on Thursday, September 19, 2024, the committee resumed its study on credit card practices and regulations in Canada.

The witnesses made statements and answered questions.

Motion

Rick Perkins moved, — Given Stripe's unknown profit margins and its refusal to comply with the government's interchange fee reduction plan, the committee order the production of all Stripe board meeting minutes related to the Government of Canada’s announcement to reduce credit card fees, balance sheets, cash-flow statements, and income statements since March 2021, broken down by Canada and Stripe’ global operations.

At 10:06 a.m., the meeting was suspended.

At 10:10 a.m., the meeting resumed.

On motion of Jean-Denis Garon, it was agreed, — That the motion be amended by adding the word “and that these documents be consulted in camera” after the words “and Stripe’ global operations”.

The committee resumed consideration of the motion, as amended, of Rick Perkins, — Given Stripe's unknown profit margins and its refusal to comply with the government's interchange fee reduction plan, the committee order the production of all Stripe board meeting minutes related to the Government of Canada’s announcement to reduce credit card fees, balance sheets, cash-flow statements, and income statements since March 2021, broken down by Canada and Stripe’ global operations and that these documents be consulted in camera.

Debate arose thereon.

At 10:19 a.m., the committee adjourned to the call of the Chair.



Miriam Burke
Clerk of the committee