- Consulting with Canadians -

Canadian Automobile Dealers Association's Submission in Response to Finance Canada's 2006 Review of Financial Sector Legislation:

May 31, 2005

Mr. Gerry Salembier
Director, Financial Institutions Division
Financial Sector Policy Branch
20th Floor, East Tower
140 O'Connor Street
Ottawa, ON
KIA OG5

Dear Mr. Salembier,

The Canadian Automobile Dealers Association (CADA) has recently met with the Canadian Bankers Association. The Bankers Association has informed us that they will not be seeking additional vehicle leasing powers in the current round of the Bank Act Review. CADA is very pleased that the banks have taken this position as additional vehicle leasing power is the primary concern that Canada's automobile dealers have with the current Bank Act Review.

Should you have any questions, please do not hesitate to contact me at 905-940-4959.

R.C. (Rick) Gauthier
President
Canadian Automobile Dealers Association