Clause 59 - Financial services ombudsman scheme to apply to consumer credit licensees
Consumer Credit Bill
3:00 pm
Mr Paul Farrelly (Newcastle-under-Lyme, Labour)
I am glad that the Minister said that I was only a ''little harsh'' rather than ''very harsh'' about the OFT. My OFT bashing was not meant to be a criticism of the Bill, which is a wonderful step in progressing regulation. I was pointing out that I hope that some regulatory competition, with a bit of backbone, will help the OFT to become a harder touch.