Consumer Credit Bill

I was explaining that the Government cannot accept that we can attempt to impose general duties that apply only to lenders who are regarded as having a tendency to harmful behaviour. The point of regulation in the sector is that all lenders have at least the potential to enter into credit relationships that are unfair and that harm consumers. That is as true of high street banks and building societies as it is of doorstep lenders. Indeed, it may be the case that, for example, a high street bank is generally responsible in its lending policies. However, isolated cases of unfair relationships do happen. Noble Lords will be aware of the regular reporting of cases in the press of regrettable practices being engaged in by the representatives of all classes of lender. So, the Government cannot accept that in this regard, or in any other similar respect, that there can be one standard applied to categories of lenders who might be regarded as ““good”” and another for those categories who are ““not so good””, by whatever measure. All lenders should lend responsibly. The manner in which they do so will depend on the needs of the customers that they serve. For this reason we do not think a specific duty in the context of this legislation is necessary or appropriate. For all those reasons, I ask the noble Baroness to withdraw her amendment.