Extract from Consideration of Lords amendments to the Financial Services Bill - Apr 26
Tuesday, 27 April 2021 07:35
Alison Thewliss (Glasgow Central) (SNP) [V]:...People support there
being a duty of care. Research by the Financial Services Consumer
Panel found that 92% of consumers, 99% of sole traders and 97% of
small and micro businesses believe it is important that there is a
duty of care in financial services. Health issues could have an
impact on them, because they would affect their business and its
viability going forward. The duty of care is also supported by Age
UK, the Alzheimer’s Society,...Request free trial
(Glasgow Central) (SNP) [V]:...People support
there being a duty of care. Research by the Financial Services
Consumer Panel found that 92% of consumers, 99% of sole traders and
97% of small and micro businesses believe it is important that
there is a duty of care in financial services. Health issues could
have an impact on them, because they would affect their business
and its viability going forward. The duty of care is also supported
by Age UK, the Alzheimer’s Society, Fair by Design, the
Money and Pensions Service
StepChange Debt Charity, Surviving Economic Abuse and The
Money Charity. They believe in it because a duty of care can lead
to the necessary change in culture and practice. Customers should
be easily able to access forbearance from their provider, including
flexibility on mortgage payments and interest freezes on credit
cards or loans, without it damaging their credit files. If we put
that in place, it would prevent long-term harm and financial
exclusion...
|
