1.The Treasury Committee launched the consumers’ access to financial services inquiry on 9 November 2018. The Committee launched this inquiry in order to assess:
The Committee held five oral evidence sessions:
Sian Williams, Director of the Financial Health Exchange, Toynbee Hall and Matthew Upton, Head of Policy for Consumer and Public Services, Citizens Advice.
Katie Evans, Head of Research and Policy, Money and Mental Health Policy Institute; Eleanor Southwood, Chair, Royal National Institute of Blind People (RNIB) and Jane Vass, Director Policy and Research, Age UK.
Baroness Tyler of Enfield and the Lord Bird MBE.
Tom Blomfield, Founder and Chief Executive, Monzo Bank; Robin Bulloch, Managing Director, Lloyds Bank and Bank of Scotland Retail, and Martin Kearsley, Banking Director, Post Office; and
Andy Goldsby, Community and Partnership Manager, Equality Advisory Support Service; Rebecca Hilsenrath, Chief Executive, Equality and Human Rights Commission; Christopher Woolard, Executive Director of Strategy and Competition, FCA, and Nisha Arora, Director of Consumer and Retail Policy, FCA.
2.In response to its call for written evidence, the Treasury Committee received over 70 submissions from stakeholders including financial services providers, charities and individual consumers.
3.The Committee also held representative outreach events in London on 28 November 2018 and Newcastle on 24 January 2019 in order to engage with a wider variety of charities and individual consumers, particularly those who may not have engaged with the Committee before.
4.This Report sets out the evidence that the Treasury Committee received in the course of this inquiry as well as the Committee’s recommendations for Government and regulators on where the Committee feels action needs to be taken.
Published: 13 May 2019