Business Banking Resolution Service
(asked on 9th November 2021) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government what powers they have to examine the operations of the Business Banking Resolution Service.
This question was answered on 22nd November 2021
The Business Banking Resolution Service (BBRS), which launched on 15 February 2021, offers a free, independent service designed to settle unresolved and new complaints that are not eligible for the FOS. The Government has always been clear that it welcomes the BBRS. However, it is an independent non-governmental body, and this independence is vital to its role. Its credibility, authority and value to SMEs would be undermined if it were possible for the Government to intervene in its decision-making or operational matters.
The Business Banking Resolution Service (BBRS), which launched on 15 February 2021, offers a free, independent service designed to settle unresolved and new complaints that are not eligible for the FOS. The Government has always been clear that it welcomes the BBRS. However, it is an independent non-governmental body, and this independence is vital to its role. Its credibility, authority and value to SMEs would be undermined if it were possible for the Government to intervene in its decision-making or operational matters.