Senator Wells: Thank you, Senator Gold, for that. It would appear to me — I don’t know the exact law on this — that if accounts are still frozen, it would be outside the purview of the Emergencies Act. Therefore, we would expect some immediate action.

Senator Gold, what is the intent of the government with regard to the information that was collected under the authority of the now-revoked act, with regard to Canadians’ banking information?

Senator Wallin: We all understand that with the revocation of the act that banks and financial institutions will have been asked to no longer freeze accounts or, perhaps, even scrutinize them. Financial institutions will continue to have immunity from liability, yet customers have no access to due process.

One of the solutions you suggested was that customers seek recourse from the financial consumer agency. That is somewhat problematic because over 80% of its funding comes from industry and it has a very poor track record of resolving claims. How can this now be resolved?