Baroness Bull
Main Page: Baroness Bull (Crossbench - Life peer)Department Debates - View all Baroness Bull's debates with the HM Treasury
(1 year, 4 months ago)
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Baroness Penn (Con)
I would certainly be interested to hear what more could be done in that area. On ensuring that everyday banking is accessible to customers, LINK, for example, publishes on its cash locator information on ATMs with audio assistance and those that are wheelchair-accessible, so that consumers are aware of what locations are suitable for them. We are always interested to hear about what further work we can do to promote financial inclusion.
Baroness Bull (CB)
My Lords, the Minister mentioned the FCA consumer duty. As I understand it, that duty and the consumer vulnerability guidance deal primarily with existing customers and do not help with the issue of the poverty premium, which excludes vulnerable people and those with the least access to resources from financial products and services. Can she say how that new consumer duty will address the issue mentioned by the noble Baroness, Lady Tyler, because I do not believe they are the same thing?