§ Mr. LlwydTo ask the Chancellor of the Exchequer when he last met representatives of the clearing banks to discuss charging policies and the need for openness with customers; and if he will make a statement.
§ Mr. NelsonMy colleagues and I meet the chairmen and other representatives of the clearing banks from time to time to discuss a wide range of issues. Bank charges for business customers were looked at in reviews of the financing of small firms published by the Bank of England in January 1994 and January 1995. Neither highlighted charges as a significant problem. For the retail sector, the code of banking practice, introduced by all the major banks, already encourages greater openness between banks and their customers. All the major banks have now introduced, or are introducing, pre-notification of charges.