Ask your MP for a stronger consumer voice at the FSA

Milarky

Rather than having insiders of the FSA we need an 'anti-FSA' based in the same building, taking half the current budget and giving no holes-barred consumer protection as its remit. It's recommendations should carry equal weight to the FSA's views (which as other posters have suggested simply can't be trusted based on it record of standing up for the banks and insurers against their own customers) The first step in the event of a conflict between the two would be a 'compromise agreement'. In rare cases where there seemed to be some genuine reason for a continuing divergence of views a 'super-mediation' would have to be made.

Beefing up the consumer panel is simply giving in these people by maintaining the pretence (against all the evidence) that they can be even-handed 'good listeners'.

(Basically it adds up to: relegate the FSA - the civilised alternative to heads on pikes)

Phlogiston

Thanks for flagging up this campaign!

Piece of advice though - I'm generally given to understand that MPs and councillors, like the rest of the population really, pay a lot more attention to a personal letter than to a mailshot campaign. So if you've got time to turn the Which? letter into something personal, it'll have a much greater effect.

sabretoothtigger

Bernanke: Financial Education Supports Economic Health


By Kristina Peterson


WASHINGTON--Promoting financial literacy can help support both individual and national economic health, Federal Reserve Chairman Ben Bernanke said in prepared remarks Tuesday.

People who make better pocketbook decisions can help stabilize the economy, Mr. Bernanke said, pointing to the recent financial crisis.

"Consumers who can make informed decisions about financial products and services not only serve their own best interests, but, collectively, they also help promote broader economic stability," the Fed chief said in remarks to be delivered to teachers gathered in the Fed's Washington board room, as well as educators watching his town hall-style meeting live online. He didn't address the current economic outlook or monetary policy in his prepared remarks.

One way for teachers to help is to instill an "economic way of thinking" in students learning to make decisions, Mr. Bernanke said. That could mean applying a cost-benefit analysis and rigorous thinking to decisions, including whether to take on student debt, he said.

"Students with some exposure to economic thinking will be more likely to conceptualize their spending on postsecondary education as an investment in their own human capital and choose their school, course of study, means of paying for their education and profession with that thought in mind," he said.

Teachers' curriculums should have clear goals and standards and may be able to keep students more engaged by making assignments interesting and relevant, advised Mr. Bernanke, a former professor himself.

The Fed chief stressed that financial education should be accessible to people at all stages of life. Some types of homework assignments, for instance, could expose parents to the same lessons their children are learning, he said.

More information about the Fed's education programs is available at https://www.federalreserveeducation.org.

Write to Kristina Peterson at kristina.peterson@dowjones.com

(END) Dow Jones Newswires

August 07, 2012 14:30 ET (18:30 GMT)

Noticed this pop up on the news just now and I remembered Martin campaigning for something along the lines of finance education

jaycube

FSA is still a strong body to handle bank matters in the country.

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prestonisidore

I am really interested about this matter this is what I am looking for but, I want to have some clarification if it is really good to fill before break it in July. Moreover, just give me posted.

dukeboxx

Am not impressed with FSA myself

wronlaster

The FSA and the argument is point out there all is about fake .... there is no need of such a things .....