---

Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 10 - Minutes of Proceedings

---

OTTAWA, Wednesday, May 2, 2001
(12)

[English]

The Standing Committee on Banking, Trade and Commerce met at 4:00 p.m. this day, in Room 505, Victoria Building, the Chair, the Honourable Senator Kolber, presiding.

Members of the committee present: The Honourable Senators Furey, Hervieux-Payette, P.C, Kelleher, P.C., Kolber, Kroft, Meighen, Setlakwe, Tkachuk and Wiebe (9).

In attendance: Mr. Stephen L. Harris, and from theParliamentary Research Branch, Library of Parliament, Economic Division: Mr. Alexandre Laurin, Research Officer.

Also in attendance: The official reporters of the Senate.

WITNESSES:

From the CS COOP, Community Financial Services:

Gary Seveny, President and Chief Executive Officer;

José Gallant, Vice-President, Finance and Chief Financial Officer.

From the Committee on Islamic Financial Institutions, Canada:

Said Zafar, Chairman.

From the Canadian Community Reinvestment Coalition:

Duff Conacher, Coordinator.

From TG International Ltd.:

Peter R. Downing, President.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, April 25, 2001, the committee continued its examin ation of Bill C-8, An Act to establish the Financial Consumer Agency of Canada and to amend certain Acts in relation to financial institutions.

Mr. Seveny of the CS COOP made a statement and with Mrs. Gallant answered questions.

Mr. Zafar of the Committee on Islamic Financial Institutions, Canada made a statement and answered questions.

Mr. Conacher of the Canadian Community Reinvestment Coalition made a statement and answered questions.

Mr. Downing of TG International Ltd. made a statement and answered questions.

At 5:15 p.m., the committee continued its proceedingsin camera.

At 5:20 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Denis Robert

Clerk of the Committee

---