FCA Dear CEO letter: Supervision strategy for the retail banking portfolio
Regulatory Updates | 05/02/21
The FCA has written to the banks about four priority areas, setting out the key risks of harm that the retail banking sector’s activities are likely to pose over the next two years as a result of the pandemic, and clarifying the FCA’s expectations of firms as they address these challenges: –
• Ensuring fair treatment of borrowers, including those in financial difficulties
• Ensuring good governance and oversight of customer treatment and outcomes during business change over the next two years
• Ensuring operational resilience over the next two years and beyond
• Minimising fraud and other financial crime.