Speeches by Dean.

“Can you explain why it is significant that it has to be cash, as opposed to concealing a separate bank account that you might be able to go and create yourself? We have lots of apps out there now. People can create bank accounts quite quickly and could potentially conceal a debit card in the same way you could conceal …”

“What do you think the Government can do to ensure that cash can remain this lifeline for victims?”

“I wanted to talk a bit about the stability of the systems that support card payments. I do not know if this is best placed for you, Ron Delnevo. We have had some pretty high-profile failures in recent years. We had the CrowdStrike incident as well. How stable is this infrastructure versus cash?”

“Just to reiterate that point, you are saying that cash is a form of civil preparedness and is needed as a defensive manoeuvre, given the way the world is at the moment. Is that what you are saying?”

“Mr D’Arcy, earlier on you said that cash acceptance is falling away faster than people are able to catch up with new tools. Let us imagine a world where we have transferred a lot of people that you are concerned about—the vulnerable people that you are representing—and that they have made an adaptation, and then these …”

“Ms Charlton, you said that it is in consumers’ interests for the process to be sped up, even if that means that they do not necessarily get the full redress that they could have got otherwise. Do you have anything to say on the FCA’s pushing back of the time for complaints to be submitted, read and heard in relation to…”

“Do you not accept that some people might see a review of those mass redress events as watering down protections for consumers?”

“I will kick off with the motor finance commission issue and the Court of Appeal decision that we have had recently. Could you explain to me how significant and widespread the impact of this will be on the industry? Perhaps we can start with you, Hannah.”

“I understand there is widespread conversation about that already, and we have a mission to talk about it more broadly today. Do you think there are any particular elements of financial services that could be affected if the decision were to be upheld?”

“Talking about mass redress events more broadly, what is your view on the current regulation of them, and is there a need for reform?”

“There has been talk about reforming the Financial Ombudsman Service, for example, and there has been a lot of speculation about whether or not mass redress events need to be handled differently. This is an example, potentially, of one of them. Could you talk more broadly about mass redress events and whether you think …”

“Would you be able to comment on the role of claims management companies?”

“Many of you were listening to the last panel. Industry put it a little more delicately than I am about to, but I think I heard them say that politicians and the media, and by extension consumers, overreact to moments of consumer harm, and that we need to accept harm as a consequence of risk. Who has a view on that?”

“I want to pick up on something that both of you have touched on. Ms Concha, you spoke about how we need to give confidence to the demand side for growth, and you mentioned some of these mass redress events as well. What impact have things such as PPI and the potential ruling on motor finance had on consumer demand?”

“If trust is so low, what do you think we need to see come out of the potential reforms to the Financial Ombudsman Service? We have seen these reforms spoken about in the context of—”

“Ms Charlton, you said that it is in consumers’ interests for the process to be sped up, even if that means that they do not necessarily get the full redress that they could have got otherwise. Do you have anything to say on the FCA’s pushing back of the time for complaints to be submitted, read and heard in relation to…”

“I will kick off with the motor finance commission issue and the Court of Appeal decision that we have had recently. Could you explain to me how significant and widespread the impact of this will be on the industry? Perhaps we can start with you, Hannah.”

“I understand there is widespread conversation about that already, and we have a mission to talk about it more broadly today. Do you think there are any particular elements of financial services that could be affected if the decision were to be upheld?”

“Talking about mass redress events more broadly, what is your view on the current regulation of them, and is there a need for reform?”

“There has been talk about reforming the Financial Ombudsman Service, for example, and there has been a lot of speculation about whether or not mass redress events need to be handled differently. This is an example, potentially, of one of them. Could you talk more broadly about mass redress events and whether you think …”