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Citizens Advice responds to Treasury’s announcement on the Financial Services Bill

27 January 2012

Gillian Guy, Chief Executive at national charity Citizens Advice said:

“We warmly welcome this Financial Services Bill which sets a framework for moving regulation of consumer credit lending to the FCA. We now urge the Government to move quickly to take the next step and put this reform into practice. The Government will also need to be sure that any credit or ancillary business that does not pass to the FCA is covered by an equivalent standard of protection, even if this means enhancing the Consumer Credit Act 1974".

Citizens Advice

Notes to editors

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more information in England and Wales see www.citizensadvice.org.uk
  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality. For online advice and information see www.adviceguide.org.uk
  3. Citizens Advice Bureaux in England and Wales advised 2.1 million clients on 6.9 million problems from April 2011 to March 2012. For full 2011/2012 service statistics see our quarterly publication Advice trends
  4. Out of 22 national charities, the Citizens Advice service is ranked by the general public as being the most helpful, approachable, professional, informative, effective / cost effective, reputable and accountable (nfpSynergy’s Brand Attributes survey, May 2010).
  5. Most Citizens Advice service staff are trained volunteers, working at around 3,500 service outlets across England and Wales.