Treasury Committee
9 June 2026
Speaker dots
- Speakers in the chapter
- Colour: political group
- Grey: no group
Tap or click a chapter's dots to see names and groups.
Contents updated on 15 Jun 2026
Legend
Transcript markers
- text Sentence being played
- text Search result
- text Intervention cited by the link you opened
Click a sentence to play the video from that moment. Select text to quote it with the speaker, timestamp and link.
More options
Treasury Committee House of Commons
00:07 - 01:13
Speaker 1
Order, order. Welcome to the Treasury Select Committee on the 9th of June 2026. We're here today to continuing our scrutiny of the government's financial inclusion strategy, and I'm delighted to have two panels in front of us today. The first is Sarah Pritchard, who's the deputy chief executive of the Financial Conduct Authority. And before we go into the financial inclusion strategy, Ms. Pritchard, I just wanted to thank the FCA for the very detailed letter that you sent to this committee in response to our letter, which we received yesterday and was published earlier this morning, as it contained market-sensitive information.
It's a really useful and detailed letter. A couple of things jumped out from it. One is the work that you have done tackling some of the claims management companies and how they have handled consumers who have contacted them about pursuing a claim for mis-sold motor finance. And I wondered if there's anything you wanted to say to us about the work that you've done there and whether you've got enough powers to tackle some of the bad players in this sector.
01:13 - 02:10
Speaker 2
Thank you. If I start with our aim here, our aim is really simple. We want to ensure that consumers can get access to fair, timely compensation, and we want to see a healthy motor finance market. Consumers have been waiting a long time and they must be compensated one way or another. We believe that our scheme remains the quickest and fairest way to do that, and we will robustly defend the challenges.
We're being really straightforward that the challenges will result in delay, and during the delay that is now in place, we have some really clear messages for consumers. It's really important that consumers know that they can complain for free. They do not need to use a claims management company. They certainly do not need to use multiple claims management companies. Using a claims management company, the claims management company could take up to 30% or more of the compensation owed.
The rest of the transcript is for Pro customers
Unlock the full transcript, chat, and every analysis feature with Polyfact Pro.
The video itself stays free to watch, in full, no account needed.
Ask anything about this video — I analyse its transcript to answer.