🚨 “Fix the system”? Or Protect Big Banks? Reeves’s Latest Play Sparks Outrage

Chancellor Rachel Reeves has once again intervened—this time targeting consumer protection—to “support growth” in the City.

But her latest bid to shield lenders from accountability over the motor finance mis‑selling scandal raises further serious questions about her competency, her priorities, and even potential corruption.

1️⃣ A Bold—and Troubling—Attempted Intervention at the Supreme Court

In a startling move in January, Reeves tasked the Treasury to intervene in a Supreme Court case concerning undisclosed commissions in car finance deals, falsely warning that up to £30 billion in compensation might cripple the motor finance industry.

Despite this political play, the Court decisively rejected her bid—underscoring that consumer justice cannot be overridden by ministerial lobbying.

2️⃣ Chopping Consumer Interest—Doublespeak on “Fairness”

Reeves then extended her crusade by supporting reforms that would significantly reduce compensatory interest for consumers and cap claim time limits to 10 years—weakening redress once more.

Let this sink in: Consumers harmed by mis‑selling—a failing industry scandal facilitated by hidden dealer commissions—are being penalised in her name.

3️⃣ An Ideology That Picks Winners—Banks Over Borrowers

The so‑called Leeds Reforms, unveiled at Mansion House, are a sweeping rollback on post‑2008 protections:

• Ringfencing rollback
• Easier mortgages with less oversight
• Reduced FOS independence
• Reduced consumer compensation—while bolstering banks for “growth”

It’s not progress—it’s reverse regulation, camouflaged as economic progress by a chancellor that is increasingly out of her depth.

🔍 Competent Leadership—or Corporate Capture?

Reeves claims these policies will “ripple into prosperity”. But citizens can’t eat bubbles or bail-out policies. When ministers weaponise the Treasury to shield companies from legal accountability, it doesn’t just raise governance concerns—it suggests corporate capture of democratic institutions.

📣 Time to Call It What It Is: A Corrupt Play for Lender Interests

These interventions are not simply “regulatory reforms”—they undermine consumer rights, delay justice, and shift risk onto everyday people.

• Rachel Reeves has repeatedly intervened to water down accountability, particularly in motor finance.
• She has stripped compensation from victims while protecting banks from consequences.
• Her repeated failures raise one inescapable question: is this incompetence or corruption?

Either way, it’s unacceptable.

⏳ Why the Fix Is Simple—and Necessary

The solution is clear:

• Reinstate full compensatory interest and claims periods for consumers affected by wrongdoing.
• Force lenders to disclose commissions and protect the impartiality of brokered finance.
• Restore FOS independence, ensure FOS employees are impartial and cease any political meddling.
• Hold ministers accountable: if you side with banks over citizens, you should not and cannot remain Chancellor.
• Put in place true deterrents: any firm that is systemically acting unfairly and harming consumers must be made an example of by facing heavy fines or having their FCA permissions revoked.

If Reeves fails to defend public rights, she must step aside—and rebuild the system on foundations of fairness, not favouritism.

📰 Related Sources:

• Reeves says red tape is a ‘boot on the neck’ of innovation
• City Reforms Announced at Mansion House
• Retail Investment Push, Regulation Trim
• Compensation Cuts for Wronged Consumers
• Yahoo Finance: Reeves Makes Compensation Harder

YOUR MONEY CLAIM