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Amend legislation to remove barriers for mutual banking - says MP Stella Creasy

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Published
30th November 2020
Last updated
7th January 2021
Topic
Policy campaigns
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Parliament

Stella Creasy MP has tabled an amendment to the Financial Services Bill, aimed at making it easier to establish a mutual bank in the UK.

Mutuals can aid 'levelling up'

Co-operatives UK strongly urges government to accept this amendment, because local mutual banks can help achieve its policies of ‘levelling up’ and building back greener, stronger and fairer from Covid-19.

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There are already challenges to establishing new mutual financial and banking solutions, and outdated legislation should not be an additional barrier. We fully endorse the proposed bill amendments put forward by Stella Creasy MP.
– James Wright, Policy Officer, Co-operatives UK

Follow the debate

The Financial Services Bill Committee in Parliament will debate Stella Creasy MP's amendment on Thursday 3 December 2020. Read our policy blog outlining the existing legislation and why this should be changed. 

What is the background to this bill?

Read our policy officer's blog
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