Treasury Committee to question Financial Conduct Authority on topics including mortgages and savings
The Treasury Committee will question the Chief Executive and Chair of the Financial Conduct Authority (FCA) as part of its ongoing scrutiny in a wide-ranging session at 2.15pm on Wednesday 19 July.
Last week, the Committee questioned mortgage lenders on rising rates and house prices. The cross-party Committee of MPs is likely to question the regulator’s leadership on the mortgage market, including concerns about increasing numbers of mortgage borrowers unable to make repayments.
The MPs are also likely to examine the implementation of the FCA’s new Consumer Duty - a requirement for firms to always act in good faith and deliver ‘fair value’ for their customers, as well as the regulator’s work on savings rates. Following on from its new inquiry into barriers faced by women in financial services, the Committee is likely to look at the regulator’s work combatting non-financial misconduct.
The FCA’s work on e-money firms and the regulation and supervision of smaller firms is also likely to be discussed.