✓ Passed into LawLords
UK Parliament · Bill
Banking Act 2009
Summary
The Banking Act 2009 created new rules and powers to manage banking emergencies and protect the UK's financial system. It established the power to take control of failing banks, created the Financial Services Compensation Scheme to protect deposits, and set up new regulatory bodies to prevent future banking crises like the 2008 collapse.
A vote to support means
- —Supporting this Act means backing stronger rules to protect banks and people's savings. It gives the government power to step in during banking crises, prevent bank failures, and keep the financial system stable so ordinary people don't lose their money.
A vote to oppose means
- —Critics worry the Act gives too much power to government officials to take over banks without enough public oversight. Some also argue it could use taxpayer money to bail out failed banks, meaning ordinary people pay for bank mistakes.
Cast Your Vote
People's Vote0 votes
0% Support · 00% Oppose · 0
Bill Passage
Commons
- 1st reading7 Oct 2008
- 2nd reading14 Oct 2008
- Committee stage21 Oct 2008
- Report stage26 Nov 2008
- 1st reading4 Dec 2008
- 2nd reading4 Dec 2008
- 3rd reading17 Dec 2008
Lords
- 1st reading17 Dec 2008
- 2nd reading18 Dec 2008
- Committee stage13 Jan 2009
- Report stage2 Feb 2009
- 3rd reading9 Feb 2009
Full Bill Description(click to expand)
No description available