Arch Cru Compensation Scheme
Debate between Tom Greatrex and Angela Smith(12 years, 6 months ago)
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Tom Greatrex
I thank the hon. Lady for her intervention. That all points to the case for a section 14 investigation to get to the bottom of these events and to prevent them from ever happening again.
To return to the payment scheme, it sounds like the FSA cannot work out what went wrong and why, and where the liability was.
Angela Smith (Penistone and Stocksbridge) (Lab)
My constituent Linda Marsh is particularly exercised by the fact that she is being pressured to accept the payment offer on the table because of the looming November deadline. Is it not really urgent that we remove that deadline and allow a proper inquiry to take place?
Tom Greatrex
I thank my hon. Friend for her intervention. She makes an important point about people being able to make the right decision when they are offered this payment deal, particularly given that it seems to bind in the Financial Ombudsman Service in a way that makes it impossible for it to take a case subsequently. My hon. Friend makes an important point.