FINANCIAL SERVICES (UNFAIR TERMS IN CONSUMER CONTRACTS) BILL

Early day motion 913, tabled 27 October 2010 by Baroness Burt of Solihull (Liberal Democrat). Signed by 31 members.

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 the Office 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.

Signatures by party: Liberal Democrat 17, Labour 10, Alliance 1, Conservative 1, Independent 1, Social Democratic and Labour Party 1.