FCA tells lenders to support consumers who are struggling with cost of living

Regulatory Updates | 22/06/22

Last week, the FCA wrote a letter to 3,500 lending firms to remind them of the standards expected in supporting consumers who are struggling to deal with the rising cost of living. The letter explains that the FCA is concerned about vulnerable customers and those in financial difficulty not getting the support they need as the cost of living continues to put financial pressure on consumers across the country. It reminds firms that they should also be effectively directing customers that need it to money guidance and free debt advice.

Source: FCA