NDP Pressures Government to Make Life More Affordable
August 1st, 2013 - 4:00pm
WINDSOR – Brian Masse (M.P) Windsor West and the New Democrats argue that if we don’t speak out, this Conservative government will keep favouring financial institutions over the wellbeing of hardworking Canadians trying to pay down their debts.
Yesterday, Masse and his fellow New Democrats launched a campaign urging the government to make it easier for Canadians to remove themselves from perpetual debt.
“We need to pressure this government to create policy in order to help the people living in Windsor and Essex County reduce their debt,” argues Masse.
Masse states that people living paycheck to paycheck are being taken advantage of by financial institutions through excessive ATM withdrawal fees, exorbitant interest paid on credit card debt and payday loan institutions that have been known to charge in excess of 1,000% interest. Furthermore, he argues that these charges target seniors, through extra fees placed on every bill sent in the mail as compared to online banking.
New Democrats point out that these excessive bank fees are costing Canadians millions of dollars each year. They argue that charges such as withdrawal fees should be capped at $0.50 per transaction. The NDP claims that rather than introducing tougher regulations and standing up for Canadians, Stephen Harper’s Conservatives continued inaction allows financial institutions to profit from struggling Canadian families.
The NDP is calling on Canadians to pressure the government to make life more affordable and reduce excessive bank fees. Masse is inviting the people of Windsor and Essex County to join the fight by signing on to the campaign at: http://ndp.ca/affordable.
This campaign focuses on four key issues:
- Protecting consumers from being charged extra fees to receive their bill by mail
- Capping unfair ATM fees that cost Canadians a combined $420 million each year
- Lowering credit card rates that keep Canadians in a debt trap
- Cracking down on payday institutions that break the law