Member

I will briefly address other amendments in this group. My colleague, the noble Baroness, Lady Tyler, whom I had anticipated was going to move the Post Office amendment, cannot be here today. She sends her apologies. I have signed her Amendment 61, as has the noble Lord, Lord Holmes, and we very much appreciate his comments in the previous group as well. It is a very modest amendment that would require the FCA to report annually on financial inclusion to Parliament and its committees, on the grounds that what gets measured gets managed. The consumer duty does not fill the gap, as it does not apply to those whom financial institutions decide not to serve. The financial inclusion strategy is widely regarded as insufficient and does not include measurable targets. How else is Parliament meant to scrutinise the FCA’s progress on financial inclusion if we do not follow the thrust of this amendment?