division_name: Financial Services Bill &#8212; Before Clause 1 - Duty of care for financial service providers
motion: <p class="indent" pid="d83.5/5" pwmotiontext="yes">&#8220;A firm must pay due regard to the interests of its customers and treat them fairly.&#8221;</p>
  
  <p class="indent" pid="d88.0/3" pwmotiontext="yes">&#8220;I do not believe that regulators should be required to have regard to broader questions that are not so closely related to prudential standards.&#8221;&#8212;[Official Report, <phrase class="date" code="2021-01-13">13 January</phrase> 2021; Vol. 687, c. 398.]</p>
  
  <p class="indent" pid="d97.0/11" pwmotiontext="yes">&#8220;would provide immediate emergency relief to those most at risk of financial ruin. No one should underestimate the threat to wellbeing and even lives if this doesn&#8217;t happen, and happen soon.&#8221;</p>
  
  <p class="indent" pid="d98.0/7" pwmotiontext="yes">&#8220;Show me the incentive and I will show you the outcome.&#8221;</p>
  
  <p class="indent" pid="d101.0/9" pwmotiontext="yes">&#8220;the same level of scrutiny to their decision-making as they would for other credit&#8221;</p>
  
  <p class="indent" pid="d101.0/11" pwmotiontext="yes">&#8220;including consideration of the potential consequences of failing to repay&#8221;,</p>
  
  <p class="indent" pid="d101.0/16" pwmotiontext="yes">&#8220;The exemption under the CCA was never intended for this kind of product but only for short-term invoice deferral.&#8221;</p>
  
  <p class="indent" pid="d107.0/5" pwmotiontext="yes">&#8220;My husband and I, like many others in Northern Ireland are classed as mortgage prisoners, through no fault of our own. Like many others in Northern Ireland, our mortgage was taken out with Northern Rock, which subsequently collapsed. Our mortgage  was then sold to a vulture fund without our consent. As these vulture funds are not an active lender, they do not offer mortgages, hence are unable to offer alternative mortgage products.</p>
  
  <p class="indent" pid="d107.0/6" pwmotiontext="yes">We are penalised on very high interest rates, which at the moment is currently well over 4% above the BOE base rate. This is crippling us, never mind the detrimental effect that it is having on our mental health.&#8221;</p>