§ Mr. Arnoldasked the Secretary of State for Trade what representation he has received about the working of the Consumer Credit Act in relation to the clearing banks; and if he will make a statement.
§ Mrs. Sally OppenheimI have today met representatives of the committee of London clearing bankers to discuss implementation of the Act and will take their views into account.
§ Mr. Arnoldasked the Secretary of State for Trade what estimate he has made of the effects of the Consumer Credit Act on the day-to-day workings of the clearing banks; and if he will institute a review of the working of the Act.
§ Mrs. Sally OppenheimThe provisions of the Act now in operation are unlikely to have had more than a marginal effect on the day-to-day workings of the clearing banks. It would be premature to institute a formal review of the working of the Act, but the Director General of Fair Trading has a statutory duty to keep its working under review.