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UK Rules Out Regulation Of Bank Lending To Small Biz

Law360, London (January 11, 2019, 1:00 PM GMT) -- Politicians accused the U.K. government on Friday of "burying its head in the sand” for refusing to grant the Financial Conduct Authority powers to regulate small business lending.

The parliamentary Treasury Committee says that a regulatory black hole for business lending, which does not fall withing the FCA's remit, is leaving victims of poor treatment by banks without protection. (AP) The chairwoman of the Treasury Committee, Nicky Morgan, launched a scathing attack on the government after it refused to back her panel’s proposals to protect businesses by regulating loans to small and midsized enterprises to help prevent the repeat of a series of...

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