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Responding to the publication of the Financial Services Bill today, Director of Public Policy at Citizens Advice, Teresa Perchard said:
"This Bill is an important step forward in providing greater support for the consumer in these difficult times and we hope it reaches the statute book in this short, truncated session.
"Enabling bodies such as Citizens Advice to bring actions on behalf of consumers will ensure that more people are able to get the kind redress through the courts which they are entitled to. We hope it will act as a spur to ensure regulators act more vigorously so that consumers don’t have to resort to seeking redress after the event."
She added:
"The Government is also doing the right thing in rolling out the new Money Guidance service and in ensuring that it is paid for through a levy on financial institutions. Citizens Advice has already been actively involved in testing the new service through pilots in the North of England, and we are sure that it will help greatly in ensuring that people are more financially capable and better able to avoid debt in the future."
Citizens Advice also welcomed the ban on unsolicited credit card cheques, but hoped that the bill could be amended to also include a ban unsolicited increases in credit limits.
But the charity regretted that the Bill does not include measures to ensure private tenants get reasonable notice of eviction where their landlords are being repossessed for mortgage arrears which it hopes the Government will find a way to rectify before the Election.
Notes to editors:
- The Citizens Advice service is a network of independent charities that helps people resolve their money, legal and other problems by providing information and advice and by influencing policymakers.
For more information in England and Wales www.citizensadvice.org.uk For more information and 2008/9 service statistics see Introduction to the service For 2008/9 service highlights see the Citizens Advice service impact report For 2008/9 social policy campaigning highlights see the Citizens Advice social policy impact report
- 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.
- Most Citizens Advice service staff are trained volunteers, working at over 3,300 locations across England and Wales.
- Citizens Advice Bureaux in England and Wales advised 2 million clients on 6 million problems from April 2008 to March 2009
- Advice and information www.adviceguide.org.uk
- Volunteer hotline 08451 264264 (local rate)
- Citizens Advice Guide to your rights, second edition: January 2008 - over 600 pages of practical, independent CAB advice. An invaluable resource for any bookshelf - available from all good bookshops; price £11.99; ISBN: 9780141034089
- Follow Citizens Advice on Twitter:
twitter.com/CitizensAdvice
- Subscribe to Citizens Advice press releases via RSS news feed: www.citizensadvice.org.uk/pressoffice
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