Professor Philip Lane:

Violations of the code may lead to sanctions for a bank, but that does not lead to redress for the individual cases.

Reference was made to the 13,000 cases. The good news for the 13,000 people involved is that they were the ones identified as being affected. They will receive compensation. Although it is true that only a small number of lenders have moved a long way in that regard, the others have a process in train; it will happen soon. The 13,000 cases have been confirmed and will be redressed and those involved compensated in the near future. I agree that it is not soon enough, but the scheme is in train and on track and it will happen. Apart from what we have been talking about, it is also about the others who have not been identified by the banks as being affected.