Early Day Motion·EDM 2156
THREE-DAY CLEARING SYSTEM
11 May 200656 Signatures
Primary sponsor
Chris Bryant
Labour — Rhondda and Ogmore
Motion Text
That this House congratulates Lloyds TSB on its decision to pay immediate interest on cheques before they are cleared; looks forward to the Office of Fair Trading's promised report into ways the banks can speed up the underlying three-day cheque clearing system; and urges all banks to move as swiftly as possible towards scrapping the three-day clearing system for all banking transactions.