New laws announced by Her Majesty the Queen will protect Lanarkshire residents' access to cash

dailyrecord.co.uk:

New laws to protect Lanarkshire residents' access to cash and help victims of financial scams were announced by Her Majesty the Queen today.The new Financial Services and Markets Bill, announced in the Queen’s Speech at the state opening of Parliament, will support Lanarkshire consumers by protecting their money.It will ensure the continued availability of withdrawal and deposit facilities across the UK, and that the country’s cash infrastructure is sustainable for the long term.The Lanarkshire Live app is available to download now.

Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you.Head to the App Store and never miss a beat in Lanarkshire - iOS - Android Cash remains an important payment method for millions of people in Britain, particularly those in vulnerable groups, and the government is committed to preserving it.The Bill will also enable the Payment Systems Regulator to require banks to reimburse authorised push payment (APP) scam losses, totalling hundreds of millions of pounds each year.

This will ensure victims are not left paying for fraud through no fault of their ownThese measures form part of wider plans to "maintain and enhance the UK’s position as a global leader in financial services", cutting red tape while maintaining high regulatory standards and ensuring the sector continues to deliver for individuals and businesses.Economic Secretary to the Treasury, John Glen, said: "We are reforming our financial services sector now