PARLIAMENTARY WRITTEN QUESTION
Bank Cards: Fees and Charges (17 May 2023)
Question Asked
To ask the Chancellor of the Exchequer, when he plans to review the Interchange Fee Regulation in the United Kingdom for domestic interchange fee caps.
Asked by:
Dame Harriett Baldwin (Conservative)
Asked by:
Dame Harriett Baldwin (Conservative)
Answer
As set out in the ‘Edinburgh Reforms’ package, the Interchange Fee Regulation 2015 is due to be reviewed as part of Tranche 3 of the Future Regulatory Framework Review implementation programme.
This prioritisation reflects the fact that the Payment Systems Regulator (PSR) is currently undertaking market reviews into card fees, including aspects of interchange fee policy. The government continues to monitor the reviews with interest and will consider, following the outcomes of the reviews, whether there are implications for legislative change.
Answered by:
Andrew Griffith (Conservative)
22 May 2023
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