{"primaryDescription":"

Consumer groups to give views on Financial Services and Markets Bill

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The Treasury Committee will hear from leading voices in consumer finance next Wednesday afternoon, as the Financial Services and Markets Bill is debated in the House of Lords.

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Representatives from Which?, Fairer Finance, Citizens Advice and Money Advice Scotland will be questioned on the measures in the Bill, with questions likely to cover issues such as changes to the Consumer Credit Act.

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Proposals to reform the Financial Ombudsman Service (FOS) may form part of the questioning, after the Committee requested a statutory lock over the appointment or dismissal of any FOS Chair in light of the potential changes.

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MPs may probe witnesses for their views on risks to consumers that could arise from simplified forms of financial advice, the use of AI in financial services and the FCA’s regulation of the insurance industry.

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