The Government have been clear that the mis-selling of financial products is wrong, and we support the Financial Services Authority’s ongoing work to tackle the issue. The Treasury and the FSA have established monthly round-table discussions with the banks and the business groups to ensure that these concerns are addressed. We will continue to work with all parties involved to ensure that the banks provide the appropriate redress.
I am glad the hon. Gentleman has asked me that question. I agree that customers who have been mis-sold products need quick redress, so I have pushed the FSA and it has agreed to implement a six-month maximum time scale for the banks to complete the review and provide the redress. I have also asked the banks and they have agreed to stop payments on these products for businesses facing financial difficulty.