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1675182

registered interest
date	04/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of raising the cap on interchange fees.
tabling member constituency	South Holland and The Deepings
tabling member printed	Sir John Hayes
uin	4907
answer	answer is ministerial correction date of answer 07/12/2023 answer text <p>The Government has previously legislated to ensure that interchange fees remain capped for UK domestic card transactions, where both the card issuer and acquirer are located in the UK, through the Interchange Fee (Amendment) (EU Exit) Regulations 2019. This instrument ensures that the previous EU regulation on interchange fees for card payments continues to operate effectively as direct retained EU law following the UK’s withdrawal from the EU. These caps ensure that the cost of card payments is affordable for merchants and acquirers.</p><p> </p><p>The Financial Services and Markets Act 2023, repeals retained EU law in financial services, which includes the Interchange Fee Regulation 2015, in order to deliver a Smarter Regulatory Framework. Retained EU law will be repealed and replaced with rules set by our independent and expert regulators, operating within a framework set by government and Parliament. Under this framework, the Payment Systems Regulator will be responsible for any future rules on interchange fees.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 07/12/2023 15:53:48 answering member 4639 label Biography information for Bim Afolami
tabling member	350 label Biography information for Sir John Hayes

1311148

registered interest
date	21/04/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions his Department has had with representatives of (a) Mastercard and (b) Visa on the interchange fee levied on consumers buying from an EU-based company following the UK's departure from the EU.
tabling member constituency	Preston
tabling member printed	Sir Mark Hendrick
uin	185284
answer	answer is ministerial correction date of answer 26/04/2021 answer text <p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p> </p><p>Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel</a></p><p>The Government has legislated to ensure that interchange fees remain capped for UK domestic card transactions, where both the card issuer and acquirer are located in the UK, through the Interchange Fee (Amendment) (EU Exit) Regulations 2019 made under the European Union (Withdrawal) Act 2018. Any changes in cross-border interchange fees between the UK and EU, as between the UK and other third countries, are a result of commercial decisions by card schemes.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/04/2021 09:07:24 answering member 4051 label Biography information for John Glen
tabling member	473 label Biography information for Sir Mark Hendrick

1281593

registered interest
date	28/01/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will bring forward proposals to cap credit card transaction fees to the level introduced by the EU in 2015.
tabling member constituency	Easington
tabling member printed	Grahame Morris
uin	144991
answer	answer is ministerial correction date of answer 02/02/2021 answer text <p>The Government has legislated to ensure that interchange fees remain capped for UK domestic card transactions, where both the card issuer and acquirer are located in the UK, through the Interchange Fee (Amendment) (EU Exit) Regulations 2019, made under the European Union (Withdrawal) Act 2018. The UK domestic interchange fee caps are at the same levels as before the end of the Transition Period.</p> answering member constituency Salisbury answering member printed John Glen question first answered 02/02/2021 15:23:07 answering member 4051 label Biography information for John Glen
tabling member	3973 label Biography information for Grahame Morris

1187274

registered interest
date	23/03/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will hold discussions with credit card companies to ask them to suspend the charging of fees on balances while the restrictions in response to covid-19 are in place; and if he will make a statement.
tabling member constituency	Tewkesbury
tabling member printed	Mr Laurence Robertson
uin	33398
answer	answer is ministerial correction date of answer 21/04/2020 answer text <p>On 17 March, the Government announced a package of measures aimed at supporting the financial wellbeing of British businesses, individuals, and families. The Government recognises that the outbreak of COVID-19 may lead to consumers facing financial difficulty and uncertainty. Therefore, we have acted to support customers who may find it challenging to make mortgage or credit payments and may require access to further credit. The major banks and building societies have pledged to provide relief to customers impacted by COVID-19, including deferring mortgage and other loan repayments, waiving fees on savings accounts and increasing overdraft or credit card limits.</p><p> </p><p>The Government is committed to doing whatever it takes to get our nation through the impacts of COVID-19 and is working closely with the Financial Conduct Authority (FCA) and industry, including credit card companies, on a number of financial services issues. The Government stands ready to announce further action wherever necessary.</p> answering member constituency Salisbury answering member printed John Glen question first answered 21/04/2020 11:27:40 answering member 4051 label Biography information for John Glen
tabling member	253 label Biography information for Mr Laurence Robertson

1171464

registered interest
date	16/01/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what information her Department holds on the number of instances that businesses have been (a) warned and (b) fined for charging fees for the use of credit or debit cards since January 2018.
tabling member constituency	South Antrim
tabling member printed	Paul Girvan
uin	4476
answer	answer is ministerial correction date of answer 23/01/2020 answer text <p>No such information is held by the Department.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 23/01/2020 14:42:02 answering member 4487 label Biography information for Kelly Tolhurst
tabling member	4633 label Biography information for Paul Girvan

1127656

registered interest
date	20/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to tackle excessive credit card charges.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	256401
answer	answer is ministerial correction date of answer 23/05/2019 answer text <p>On 1 April 2014, regulation of the consumer credit market was transferred to the Financial Conduct Authority (FCA). The government has given the FCA strong powers to protect consumers and to take action against firms and individuals that do not meet its standards.</p><p> </p><p>The FCA conducted an extensive study of the credit card market from 2014-2016. In its final report, the FCA said that competition is working well for the majority of consumers, but expressed concerns about the scale, extent, and nature of problem credit card debt. The FCA then announced a package of remedies in February 2018, including: giving customers more control over credit limits; encouraging customers to repay more quickly; earlier identification of customers at risk of financial difficulty; and, help for customers in persistent debt, with escalating measures at 18, 28, and 36 months.</p><p> </p><p>The government welcomes the FCA’s remedies to tackle persistent debt in the credit card market, and will continue to work closely with the FCA to ensure all customers are treated fairly.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/05/2019 12:53:40 answering member 4051 label Biography information for John Glen
tabling member	4131 label Biography information for Jim Shannon

1077058

registered interest
date	25/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what charges they expect to be applied after Brexit to UK credit card transactions in EU member states.
tabling member printed	Lord Bruce of Bennachie
uin	HL13978
answer	answer is ministerial correction date of answer 11/03/2019 answer text <p>The UK and EU negotiating teams have reached agreement on the terms of an Implementation Period that will start on 29 March 2019 and last until 31 December 2020. During the Implementation Period, the UK will no longer be a Member State of the European Union, but market access will continue on current terms. This would mean that the current ban on surcharging consumer credit and debit cards, as set out in the second Payment Services Directive, would apply during an Implementation Period.</p><p> </p><p>In the event that the UK leaves the European Union without a Withdrawal Agreement or Implementation Period, credit and debit card transactions with UK payment cards in EU member states could become more expensive and surcharges may be applied, given the UK would be treated as a third country in relation to the EU. As the second Payment Services Directive, which currently bans surcharging for consumer credit and debit cards issued in EU Member States, would no longer apply to UK payment cards, any changes would be a result of the laws of individual EU Member States. The UK Government cannot legislate with respect to surcharges applied by merchants in the EU, and any decision to apply a surcharge would be a commercial decision by the merchant.</p><p> </p><p>Merchants in the UK will continue to be banned from applying surcharges to payments made by a consumer credit or debit card issued by a provider based in the UK.</p> answering member printed Lord Bates question first answered 11/03/2019 15:08:44 answering member 1091 label Biography information for Lord Bates
tabling member	615 label Biography information for Lord Bruce of Bennachie

935303

registered interest
date	06/07/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to tackle excessive card payment surcharges.
tabling member constituency	York Outer
tabling member printed	Julian Sturdy
uin	161548
answer	answer is ministerial correction date of answer 16/07/2018 answer text <p>In January 2018, European Union legislation (PSDII) introduced a mandatory ban on surcharging for the vast majority of consumer cards - Visa and MasterCard - with the Government extending the ban to all retail payment instruments. The intention is to make the rules around surcharging less confusing for customers and reduce the chances of the customer being taken advantage of by any unscrupulous firms.</p><p>This builds on action already taken by the Government through the Consumer Rights (Payment Surcharges) Regulations 2012, which set out to improve transparency to facilitate competition and address excessive payment surcharges.</p><p>Government has not made a formal assessment of the impact of the Consumer Rights (Payment Surcharge) Regulations. However, in Spring, the Government launched a call for evidence on cash and digital payments in the new economy. It sought information on how the shift from cash to digital payments impacts on different sectors, different regions and different demographics. As part of this call for evidence, views on the surcharging ban were provided. The Government will formally respond to the call for evidence in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 161547 161549 question first answered 16/07/2018 09:39:09 answering member 4051 label Biography information for John Glen
tabling member	4079 label Biography information for Julian Sturdy

935304

registered interest
date	06/07/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the effectiveness of the Consumer Rights (Payment Surcharge) Regulations 2012 in tackling excessive card payment surcharges.
tabling member constituency	York Outer
tabling member printed	Julian Sturdy
uin	161549
answer	answer is ministerial correction date of answer 16/07/2018 answer text <p>In January 2018, European Union legislation (PSDII) introduced a mandatory ban on surcharging for the vast majority of consumer cards - Visa and MasterCard - with the Government extending the ban to all retail payment instruments. The intention is to make the rules around surcharging less confusing for customers and reduce the chances of the customer being taken advantage of by any unscrupulous firms.</p><p>This builds on action already taken by the Government through the Consumer Rights (Payment Surcharges) Regulations 2012, which set out to improve transparency to facilitate competition and address excessive payment surcharges.</p><p>Government has not made a formal assessment of the impact of the Consumer Rights (Payment Surcharge) Regulations. However, in Spring, the Government launched a call for evidence on cash and digital payments in the new economy. It sought information on how the shift from cash to digital payments impacts on different sectors, different regions and different demographics. As part of this call for evidence, views on the surcharging ban were provided. The Government will formally respond to the call for evidence in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 161547 161548 question first answered 16/07/2018 09:39:09 answering member 4051 label Biography information for John Glen
tabling member	4079 label Biography information for Julian Sturdy

818661

registered interest
date	08/01/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Credit Cards: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether he plans to bring forward legislative proposals for a total cost cap on credit cards of 100 per cent of the original sum borrowed.
tabling member constituency	Crewe and Nantwich
tabling member printed	Laura Smith
uin	121425
answer	answer is ministerial correction date of answer 16/01/2018 answer text <p>The regulation of consumer credit, including credit cards, is a matter for the Financial Conduct Authority (FCA). The Government has given the FCA strong powers to protect consumers, including the power to cap all forms of consumer credit, and the FCA can do so if it thinks it is necessary to protect consumers.</p><p> </p><p>The Government welcomes the FCA’s extensive Credit Card Market Study which identified concerns about persistent credit card debt. The FCA is consulting on remedies, which include encouraging customers to repay more quickly; earlier identification of customers at risk of financial difficulty; and help for customers in persistent debt with escalating measures at 18, 28, and 36 months. The FCA’s proposals also include a voluntary industry agreement to give customers more control over credit limit increases.</p><p> </p><p>The FCA is not proposing a price cap as it considers that its proposals are more likely to address the consumer harm it has identified. The Government will continue to work with the FCA to ensure that customers are treated fairly.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/01/2018 12:04:17 answering member 4051 label Biography information for John Glen
tabling member	4648 label Biography information for Laura Smith