Labour has stepped up the pressure on Trade Minister Lord Green after claims of money laundering at HSBC when he was in charge of the bank.
The Opposition's leader in the Lords, Baroness Royall, has been granted an urgent question about the impact of the allegations on Lords Green's ability to "fulfil his ministerial duties".
Lords leader Lord Strathclyde will respond for the Government.
The move comes after a US Senate committee found HSBC accepted more than £9bn from high-risk money-laundering countries such as Mexico and Russia without properly monitoring transactions.
Lord Green spent three years as chief executive of the bank before being appointed chairman in 2006, a role he remained in until he was brought into government by Prime Minister David Cameron in 2010.
The former banker has faced criticism from Labour peers for refusing to answer questions in the Commons about the scandal.
Shadow financial secretary to the Treasury Chris Leslie has written to the peer calling on him to clarify what he knew about the alleged wrongdoing.
And last week Lord Foulkes of Cumnock labelled him the "the Scarlet Pimpernel of the House of Lords", asking: "Why do we never see Lord Stephen Green of Hurstpierpoint? Why does he not come to answer questions?"
"Is it because he is so embarrassed that he was executive chairman of HSBC during the banking scandal?"
The head of compliance at HSBC David Bagley resigned in front of the US Senate subcommittee last week over the scandal after its findings were published.
The US arm of HSBC (HBUS) treated HSBC Bank Mexico - which transported 7bn US dollars (£4.5bn) in cash in armoured vehicles to the bank in 2007 to 2008 - as a "low risk" client, the subcommittee found.
It also claimed that foreign HSBC banks avoided safeguards designed to block transactions involving terrorists, drug lords, and rogue regimes and ignored links to terrorists, providing services to risky banks in Saudi Arabia and Bangladesh.
Subcommittee chairman Senator Carl Levin said HSBC's compliance culture had been "pervasively polluted for a long time".
He claimed HSBC had used its US bank as a gateway into the US financial system for HSBC affiliates around the world while "playing fast and loose with US banking rules".
"Due to poor anti-money laundering controls, HBUS exposed the United States to Mexican drug money, suspicious travellers' cheques, bearer share corporations, and rogue jurisdictions," Mr Levin said.