The Building Societies Association (BSA) represents all 44 UK building societies. Building societies have total assets of over £393 billion and, together with their subsidiaries, hold residential mortgages of over £302 billion, 22% of the total outstanding in the UK. They hold over £271 billion of retail deposits, accounting for 18% of all such deposits in the UK. Building societies account for 36% of all cash ISA balances. They employ approximately 43,000 full and part-time staff and operate through approximately 1,500 branches.
We are pleased to submit our response to the Green Paper “ Modernising consumer markets” published by the Department of Business, Energy & Industrial Skills in April 2018. As an organisation whose members are owned by / focussed on their customers, we particularly welcome the focus on ensuring that the new product and service opportunities created by the rapidly developing digital economy are available to and offer opportunity for all consumers
The Green Paper is wide ranging and not always directly relevant to our sector so we have deliberately chosen not to answer all of the consultation questions.
Read the full response here.