Bank Services: Standards

(asked on 28th March 2018) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to the Financial Conduct Authority's Final Notice on Vanquis Bank, what assessment (a) he and (b) the FCA have made of the potential merits of updating the Financial Services Authority and Office of Fair Trading's 2013 joint guidance on the conduct of firms selling and administering payment protection products.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 18th April 2018

This is an operational matter for the Financial Conduct Authority (FCA) as the regulator of consumer credit, who are operationally independent from Government. The questions have been passed on to the FCA.

For legal and public interest reasons, the FCA do not generally disclose publicly whether or not they are taking action against a regulated firm, an insurer or an individual person.

The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.

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