'Don't kill Consumer Focus' blog discussion

baby_boomer

The exit of Consumer Focus would mean a bigger role for consumer organisations like MSE.

We know Martin and MSE are up to becoming part of the "big society" on behalf of us consumers.

MSE's influence is growing all the time and should not be underestimated.

alwaysonthego_2

I volunteer at the CAB and we have had a huge drop, at our office, in volunteers. We are already over stretched as it is with employment and debt issues brought on by this recession. I was discussing this issue with colleagues and it is a worry how we will manage. If only we could pluck volunteers out of the air.

curlycat_2

Went to an area meeting for CAB last week. Was confirmed that they want to close Consumer Focus and have offered it to CAB. CAB pointed out that yes, we can help clients, but will not have the prosecution and investigative powers that Consumer Focus had.

Suspect people will become short changed as CAB is losing funding hand over fist so is unlikely to be able to cope with the extra work.

Alpine_Star

MSE_Martin wrote: »

We're left with a massive lacuna in the system - who will look at the big issues.

Don't forget the impending formation of CPMA. Although their exact remit is yet to be agreed, it's outline function is a ''responsibility to promote confidence in financial markets and services and with a clear consumer protection function. A "single integrated conduct regulator, taking a tougher, more proactive and more focused approach to regulating conduct in financial services and markets''.

This will be a standalone consumer protection authority for financial services - which doesn't exist at present.