Business Banking Resolution Service

Treasury written question – answered on 22nd November 2021.

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Photo of Lord Sikka Lord Sikka Labour

To ask Her Majesty's Government what powers they have to examine the operations of the Business Banking Resolution Service.

Photo of Lord Agnew of Oulton Lord Agnew of Oulton Minister of State (HM Treasury), Minister of State (Cabinet Office)

The Business Banking Resolution Service (BBRS), which launched on 15 February 2021, offers a free, independent service designed to settle unresolved and new complaints that are not eligible for the FOS. The Government has always been clear that it welcomes the BBRS. However, it is an independent non-governmental body, and this independence is vital to its role. Its credibility, authority and value to SMEs would be undermined if it were possible for the Government to intervene in its decision-making or operational matters.

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