Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of (a) liaising with the Azure and Barclays Action and Support Group on the loans issued outside of the April 2014 – April 2016 period and (b) investigating the allegations of regulatory failures associated with Barclays Partner Finance and Azure Services Ltd.
The Government is aware of the campaign by the Azure and Barclays Action and Support Group for consumers to receive compensation for loans outside the April 2014 – April 2016 period.
However, the regulation of consumer credit is a matter for the Financial Conduct Authority (FCA), which operates independently of Government. The Treasury has no general power of direction over the FCA and cannot intervene on specific matters.