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<p>The Government deplores the use of deceptive practices to recover loans. The Financial
Conduct Authority (FCA) is the regulator responsible for the conduct of banks. It
is for the FCA rather than UKFI to consider whether to take action against banks in
relation to debt recovery practices.</p><p> </p><p>It is the responsibility of the
banks involved to respond to any concerns raised by customers or regulators.</p><p>
</p><p> </p><p>The role of UK Financial Investments Ltd (UKFI) is to manage the Government's
shareholdings. As an engaged shareholder, UKFI acts to ensure that the banks have
sound long-term strategies which produce value for the taxpayer, and that they are
effectively managed and properly governed. However, it does not interfere in day-to-day
operations.</p>
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