New financial action plan from the FSA

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New financial action plan from the FSA

A new £12 million programme to offer free advice on money matters is part of the Financial Services Authority's (FSA) new Financial Capability Action Plan.

Other initiatives of the plan, which was launched by chief secretary to the Treasury Yvette Cooper MP, include a one stop shop for information based on the FSA's Moneymadeclear website and consumer helpline.

Schools will also benefit from the government's new £11.5 million My Money programme and the FSA's £61 million Learning Money Matters scheme.

Ms Cooper said it had to become "much easier" for people to get help and advice.

Hector Sants, FSA chief executive, said the purpose is to "help consumers to be able to make sound money choices".

The Council of Mortgage Lenders (CML) welcomed the plan, noting that mortgages are not the only source of pressure for households as costs of food and fuel rise too.

Director general Michael Coogan said lenders were also trying to help concerned people get proper advice and fair treatment.
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