Member

On Amendments 2 and 3, I fully agree that consumers must continue to benefit from robust protections and effective routes to redress. The Government would not be proceeding with this reform if we felt otherwise. However, I do not consider that the duty proposed is an appropriate mechanism to achieve this. The Government have already concluded that certain important protections should remain in legislation, including Section 75, which allows consumers to claim their money back from their lender where products and services purchased on credit are faulty or do not arrive, and the unfair relationships provisions in Sections 140A to 140D. As I have said, the FCA Handbook already contains important protections, including for creditworthiness and affordability assessments.