Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will ask the Prudential Regulation Authority to ease the rules on credit unions being able to lend to other credit unions.

According to Section 11 of the Credit Unions Act 1979, credit unions are able to lend to other credit unions.

Credit unions are regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in a way that ensures the stability and soundness of the sector. The PRA and FCA are independent regulators and take decisions on the regulation of credit unions in line with their statutory objectives.