My Lords, I thank the Minister for her remarks, and particularly for obtaining agreement from the Financial Conduct Authority that in its next stage of consultation it will attend to the presenting issue of telesales in connection with payday loans. I expect that it will attend to that
with its usual rigour and in a timely fashion. We heard today that this will be no later than the summer of next year. We have also heard that this will cover not only telephone calls but texts and emails as well.
I am most grateful to those who have contributed to the debate, especially the noble Lord, Lord Alton. I have also been very interested to hear the remarks of the noble Baroness, Lady Hayter, on the wider issue of nuisance calls. She referred to the “bank of mum and dad”, which highlights the underlying issue—the fact that while some people can go to the bank of mum and dad, even if they have to make a nuisance international phone call to do it, the people we are really trying to protect are those who have no other recourse than to go for unaffordable money at exorbitant rates.
In closing, I congratulate the noble Baroness on her forthcoming birthday. I hope that on 2 January, in addition to the present suitable for a public servant, she receives other presents that require no one to take out a loan to provide them. I beg leave to withdraw the amendment.