FCA report highlights extent of firms monitoring financial vulnerability

Following the publication of the report in the news story above, the FCA highlighted its findings in relation to firms monitoring customers susceptible to financial difficulty. In the report, entitled ‘Borrowers in Financial Difficulty following the Coronavirus pandemic’, the regulator highlights that pawnbrokers were deemed the worst sector for monitoring this, closely followed by the motor finance sector. Close to 90% of home-collected firms were good at monitoring this.

Source: FCA