Asked by: Lord Stewartby (Conservative - Life peer)
Question to the HM Treasury:
To ask Her Majesty’s Government what steps they have taken to ensure that cheques will continue to be available for those who wish to use them, including in particular charities and the elderly.
Answered by Lord Deighton
The Government took decisive action on this matter by reversing the 2009 decision by banks to phase out cheques.
As well as this, the Government is bringing in legislation that will require banks to accept cheques in both paper and digital forms. This digital innovation will allow consumers, firms and charities to pay in cheques using only a smartphone image if they wish. It will increase the efficiency of the cheque payment system, making it more sustainable for banks and building societies to provide cheque services. Customers who wish to use paper cheques will continue to be able to do so.
Asked by: Lord Stewartby (Conservative - Life peer)
Question to the HM Treasury:
To ask Her Majesty’s Government what plans they have to reconsider the attitudes, capabilities and experience required for senior posts in regulation in the light of the outcome of the Davis Review of the Financial Conduct Authority.
Answered by Lord Deighton
The Davis Review contained no recommendations for the government. The response to the Davis review conclusions is a matter for the Financial Conduct Authority.
This question has therefore been passed on to the FCA and the FCA will reply directly to the Noble Lord by letter. A copy of the letter will be placed in the Library of the House.