The government’s Financial Inclusion Strategy is failing those who need help, according to a new Treasury Committee report published today.

The Bank of England, the FCA and the Treasury have been accused of exposing the public and the financial system to potentially serious harm due to their current positions on the use of artificial intelligence (AI) in financial services.

The Chancellor’s proposed changes to the Cash ISA in her November Budget risk complicating the ISA landscape and confusing consumers, according to the Treasury Committee.

The Treasury Committee has criticised the government for not heeding its warnings that the Lifetime ISA (LISA) required reform.

MPs on the influential Treasury Committee have today called on the FCA to explain its role in the shock departures of the Financial Ombudsman CEO and chair over the past few days.