✓ Passed into LawLords
UK Parliament · Bill
Financial Services (Banking Reform) Act
Summary
This Act creates stricter rules for how UK banks operate, mainly by forcing large banks to separate their risky investment activities from their regular retail banking (where people keep savings accounts). It's designed to make the banking system safer and protect ordinary people's money if something goes wrong.
A vote to support means
- —Supporting this Act means wanting stronger rules for UK banks to protect people's money and prevent another financial crisis like 2008. It aims to separate risky investment banking from everyday banking services, so if banks make bad decisions with investments, ordinary customers' savings won't be at risk.
A vote to oppose means
- —Critics worry the Act might make banking more complicated and expensive for customers, with higher fees. Some argue it could reduce the UK's competitiveness in global finance or that the regulations don't go far enough to prevent future problems.
Cast Your Vote
People's Vote0 votes
0% Support · 00% Oppose · 0
Parliament's Vote339 MPs
89% Ayes · 30311% Noes · 36
Bill Passage
Commons
- 1st reading4 Feb 2013
- 2nd reading11 Mar 2013
- Committee stage19 Mar 2013
- 1st reading9 May 2013
- 2nd reading9 May 2013
- Report stage8 Jul 2013
- 3rd reading9 Jul 2013
Lords
- 1st reading10 Jul 2013
- 2nd reading24 Jul 2013
- Committee stage8 Oct 2013
- Report stage26 Nov 2013
- 3rd reading9 Dec 2013
Full Bill Description(click to expand)
No description available