Financial Services (Unfair Terms In Consumer Contracts) Bill

EDM number 913 in 2010-12, proposed by Lorely Burt on 27/10/2010.
Categorised under the topics of Consumers and Financial services.

That this House welcomes the provisions of the Financial Services (Unfair Terms in Consumer Contracts) Bill; notes that the provisions of the Bill amend existing legislation so that theOffice of Fair Trading (OFT) will be able to consider whether financial services consumer contracts are fair; further notes that it is almost a year since the Supreme Court found against consumers on this issue; regrets that the financial services industry has not yet agreed with the OFT a way forward; considers that these provisions are a necessary first step, regardless of the outcome of the discussions between the OFT and the Lending Standards Board due to be concluded by December 2010; and calls on the Government to support the provisions of the Bill.

This motion has been signed by a total of 32 MPs, 1 of these signatures have been withdrawn.