The UK Government has announced new laws to protect access to cash in the UK.
In Brief:
The Queen’s Speech announced the new Financial Services and markets Bill.
It will make sure the country retains its cash infrastructure while FinTech innovation moves on.
The Bill also outlines other protection for consumers, for example against APP (authorised push payment) fraud.
What does this mean?
The Bill revokes EU law to replace it with the UK’s own regulation which the government is keen to ensure is designed more specifically for the UK.
