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Snippet Contents:

If anyone on the street was asked today, however, no one would say that it was victimless. The implications, be they in terms of banking or insurance, for the whole population have been significant. People have lost their homes, we have had to give the banks money over recent years and 33,000 people have had money stolen through the tracker mortgage scandal. We are all paying for the misconduct and failure of the bankers. We must ensure that those who are responsible for wrongdoing on such a scale are held criminally accountable and face the prospect of jail time and significant penalties. This Bill is a step towards that.
We also need to give the victims of banks and similar institutions the tools to take action in a civil manner. I commend the Multi-Party Actions Bill 2017 in that regard. I hope that the Government will also take action. We must ensure that there are real and accessible options for people to take civil actions against banks and financial institutions that have done wrong.