Edward Morello

Edward Morello

Liberal Democrat — West Dorset

Speaking in the House of Commons on 16 July 2025

Debate

Credit Unions

Contribution

I congratulate the hon. Lady on securing this important debate. She has mentioned financial burdens a couple of times. The average credit union has fewer than seven employees, and is run nearly entirely by volunteers. Smaller credit unions are under the same dual regulatory burden as larger ones, and have to report to both the FCA and the Prudential Regulation Authority. Does she think that there should be proportionality, and that lighter regulation for smaller credit unions would give them the capacity to innovate?

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