PARLIAMENTARY WRITTEN QUESTION
Bank Services: Misrepresentation (28 March 2018)

To ask Mr Chancellor of the Exchequer, with reference to the Financial Conduct Authority's (FCA's) Final Notice on the mis-selling by Vanquis Bank of its repayment option plan, whether other banks are being investigated by the FCA for potentially mis-selling similar products.

Asked by:
Kevin Hollinrake (Conservative)

This is an operational matter for the Financial Conduct Authority (FCA) as the regulator of consumer credit, who are operationally independent from Government. The questions have been passed on to the FCA.

For legal and public interest reasons, the FCA do not generally disclose publicly whether or not they are taking action against a regulated firm, an insurer or an individual person.

The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.

Answered by:
John Glen (Conservative)
18 April 2018