Finance committee  The proposed amendments do not include an assertion of exclusive federal jurisdiction over bank consumers. There is presently a comprehensive set of federal rules applying to banks when they deal with their customers, and these rules co-exist with the provincial rules. The proposed amendments represent an enhancement to the existing federal regime and are intended to be complementary to the provinces' rules.

Finance committee  This particular amendment would define “external complaints body” as a body corporate designated under a particular subsection. Therefore, with the related amendments that follow, that amendment would indicate that the minister shall designate a body corporate incorporated under the Canada Not-for-profit Corporations Act to be the only external complaints body to deal with complaints that have not been resolved by their member institutions.