Pay
The question
To ask the Chancellor of the Exchequer, if she will meet with representatives of the banking sector to discuss end of month payday payments.
Answered by Emma Reynolds
The Government was concerned to hear of the issues impacting customers of several UK banks earlier this year, particularly given these coinciding with end-of-month payment cycles, but understands that services were quickly restored.
Engagement with specific firms is a matter for the sector’s regulators, including the Bank of England, Prudential Regulation Authority and Financial Conduct Authority, who will continue to monitor the firms and the impact of the issues.
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