Financial services are public utilities which provide essential public services.
As matters of good public policy and to achieve the MacKay Reports thematic goals, the undersigned consumer organizations call upon the Minister of Finance and the federal government to implement the following Consumer Charter for Financial Services Reform. The federal government should establish an independent regulatory agency immediately. The majority of the Bureau's members should be made up of consumer representatives. This consumer protection agency should have the mandate and overall responsibility for consumer protection rules, regulations and compliance measures. This agency's mandate should also include industry auditing and consumer education initiatives.