FCA Dear Board of Directors letter to debt purchasers, collectors, and administrators

Regulatory Updates | 18/01/21

The Financial Conduct Authority (FCA) has published a ‘Dear Board of Directors’ letter sent to the boards of debt purchase, debt collection, and debt administration firms, setting out its view of the key risks such firms post to their customers or to the markets in which they operate.

The letter goes on to outline the FCA’s supervisory expectations in these areas, and provides guidance on the fair treatment of vulnerable customers, and on forbearance and due consideration.