Banks: Internet Banking

Baroness Hayter of Kentish Town Excerpts

Monday 1st February 2016 Lords Chamber

[Baroness Hayter of Kentish Town (Lab)]

The people who suffer most from this are indeed the customers, particularly on the last occasion—on what was probably their first pay day this year. What action are the Government ensuring is taking place to make sure that those consumers can be compensated without each of them having to take their own case and prove their own personal discomfort?

[Lord Ashton of Hyde]

Of course, the point of setting up the regulatory system is that it is for the regulators to deal with consumer detriment, which is exactly what the Financial Conduct Authority has done. I believe that the banks involved in this have said that they would not allow consumers to suffer detriment.