Credit: Misrepresentation

(asked on 14th June 2018) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what estimate (a) his Department and (b) the or the FCA has made of the amount funding UK banks have allocated to the payment of compensation to people that were mis-sold both PPI and non-insurance debt waiver or debt freeze products.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 19th June 2018

The regulation of payment protection insurance (PPI) and debt freeze and waiver products is a matter for the Financial Conduct Authority (FCA). We have passed the Honourable Gentleman’s questions on to the FCA, who will reply directly to him by letter. A copy of the letter will be placed in the Library of the House.

Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery, including regular meetings with the FCA to discuss relevant regulatory issues.

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