"Banking the unbanked": promoting financial
inclusion
Summary
Financial exclusion can impose significant costs on
individuals and be a barrier to employment and enterprise.
Many people
are still facing problems in opening basic bank accounts and operating them to
maximise their value.
Some banks are not meeting their
obligations under the Banking Code.
This Report, from the House of
Commons Treasury Committee, sets out an agenda for action for the Government,
banks and the Banking Code Standards Board.
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How does it affect me?
If you had a Post Office card account, have no bank account and/or no access
to basic banking services, receive housing benefit or work in the finance
industry, this affects you.
The report finds that the migration away from
the Post Office Card Account have not been well handled and recommends that the
Government works with the Post Office in promoting financial inclusion.
The Committee also suggests that the Government needs to ensure that
problems with accessing bank accounts are resolved before extending the system
of direct payment of housing benefit.
You've read what the government is
saying - click on 'Have Your Say Now' to find the website of the relevant
government body to make contact.
