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Plan to cut banks' red tape should be reconsidered, UK consumer groups say

By Sofia Gerace ( January 15, 2025, 13:18 GMT | Insight) -- The House of Lords, Britain's upper chamber, heard from representatives of UK consumer groups on Wednesday that the government's push for more growth and less red tape in financial services should be reconsidered with an "evidence-based" discussion. The comments come as the UK government has been urging financial regulators for months to cut red tape in a bid to boost the country's economic growth.The plan to cut banks' red tape should be reconsidered with an "evidence-based" discussion, UK consumer groups have told lawmakers on Wednesday as the government is pushing for more growth and less red tape in financial services....

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