Consumer Body Calls For Regulator To Protect Cash-Users
Law360, London (February 12, 2019, 1:31 PM GMT) -- The government must appoint a new regulator to protect the interests of more than 25 million people who rely on cash, a consumer group said on Tuesday, warning that bank branch and cashpoint closures could leave customers struggling to pay their bills.
Which? warned that consumers could be shut out of paying for goods and services unless the U.K. takes regulatory action to prevent the country moving further toward becoming a cashless society. A new watchdog, with responsibility for overseeing the cash infrastructure, could manage changes to bank branches and intervene when ATMs close, the consumer champion recommended.
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