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INDU Committee Meeting

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Minutes of Proceedings

44th Parliament, 1st Session
Meeting 147
Monday, November 25, 2024, 3:33 p.m. to 7:28 p.m.
Webcast
Presiding
Joël Lightbound, Chair (Liberal)

• Kelly Block for Jeremy Patzer (Conservative)
• Hon. Ed Fast for Jeremy Patzer (Conservative)
• Shuvaloy Majumdar for Jeremy Patzer (Conservative)
• Sherry Romanado for Chandra Arya (Liberal)
Library of Parliament
• Isaac Doucette, Analyst
• Dana Fan, Analyst
Competition Bureau Canada
• Matthew Boswell, Commissioner of Competition
• Anthony Durocher, Deputy Commissioner, Competition Promotion Branch
• Krista McWhinnie, Deputy Commissioner, Monopolistic Practices Directorate
Financial Consumer Agency of Canada
• Shereen Benzvy Miller, Commissionner
• Frank Lofranco, Deputy Commissioner, Supervision and Enforcement
• Supriya Syal, Deputy Commissioner, Research, Policy and Education
• Jason Bouzanis, Assistant Commissioner, Public Affairs
Pursuant to Standing Order 108(2) and the order of reference dated Thursday, November 7, 2024, the committee resumed its study on credit card practices and regulations in Canada.

Matthew Boswell made a statement and with Krista McWhinnie and Anthony Durocher answered questions.

Motion

By unanimous consent, Vance Badawey moved, — That the Committee invite Bell Canada's President and Chief Executive Officer, Mirko Bibic and TELUS, President and Chief Executive Officer, Darren Entwistle to appear and answer questions about allegations of price increases made without consumers knowledge in addition to Rogers.

At 5:24 p.m., the meeting was suspended.

At 5:33 p.m., the meeting resumed.

Shereen Benzvy Miller made a statement and with Frank Lofranco, Jason Bouzanis and Supriya Syal answered questions.

The committee resumed debate on the motion of Rick Perkins moved on Thursday, October 24, 2024 which read as follows:

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.

Debate arose thereon.

On motion of Simon-Pierre Savard-Tremblay, it was agreed, — That the motion be amended by adding after the words “Stripe’ global operations”, the following: “provided that such documents shall only be available for consultation at the Clerk's office by Committee members only, during a week designated by the Committee no later than 30 days following receipt of the documents, under the supervision of the Clerk, and that no mobile electronic or personal recording devices of any kind shall be permitted in the room, and that no notes taken during consultation shall leave the room.” and;

That the committee hold one hour in camera to discuss.

After debate, the question was put on the motion and it was agreed to.

The motion, as amended, read as follows:

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 provided that such documents shall only be available for consultation at the Clerk's office by Committee members only, during a week designated by the Committee no later than 30 days following receipt of the documents, under the supervision of the Clerk, and that no mobile electronic or personal recording devices of any kind shall be permitted in the room, and that no notes taken during consultation shall leave the room.” and;

That the committee hold one hour in camera to discuss.

At 7:08 p.m., the meeting was suspended.

At 7:12 p.m., the meeting resumed.

At 7:28 p.m., the committee adjourned to the call of the Chair.



Miriam Burke
Clerk of the committee