Lord Bilimoria
Main Page: Lord Bilimoria (Crossbench - Life peer)Department Debates - View all Lord Bilimoria's debates with the HM Treasury
Financial Services Bill
Lord Bilimoria Excerpts(12 years, 4 months ago)
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Lord Borrie
Yes, of course I will withdraw my amendment, but I must express disappointment with the disinclination of the Minister to take the one further step that would enable a change to be 100%, rather than whatever percentage of good boys will conform to a code of practice.
Lord Bilimoria
My Lords, I accept that there is an element of contradiction in advocating, on the one hand, that we go carefully on transferring consumer credit but, on the other, that we transfer CMCs. I just make two points on consumer credit. I argued strongly for its transfer at the time of the FSMA; I am pleased to see it happening; I think that that is correct. CMCs are basically a financial service. They are lodging claims for people, whatever the cause. I hope that, in due course, it may be transferred to the FCA.