FCA vulnerability review

Published 15 April 2025

The FCA has carried out a review of firms’ treatment of customers in vulnerable circumstances. Firms across the financial services spectrum were contacted and asked to provide data and information to assist the regulator’s review. Ultimately, their review focused on evaluating firms’ actions in line with ‘FG21/1: Guidance for firms on the fair treatment of vulnerable customers’, which has been in place since 2021. On 7 March 2025, the FCA published the findings of their review, along with the associated consumer research.

Borrowing and spending at Christmas

Published 15 December 2024

At this time of year, there are always stories about how people plan to pay for Christmas. Costs can quickly add up between presents, family expectations, extra travel, and hosting. Combined with the cost-of-living crisis currently facing many, it can be an expensive time of year.

Vulnerable customers

Published 12 September 2024

Firms must pay due regard to the understanding, identification and monitoring of vulnerable customers to ensure they receive the same outcomes as the wider customer base. This workshop provided the latest insights and practical guidance on assessing the fitness and propriety of  Vulnerable Customers frameworks.

Understanding vulnerable customers

Published 17 July 2024

This Live Learning event is designed to compliment the CCTA Academy Vulnerable Customers course. It aims to enhance, at a more advanced level, the learners’ knowledge and understanding of vulnerability and help improve their skillsets when dealing with vulnerable customers. This content can be accessed by logging into CCTA Academy.

FCA publishes Financial Lives Survey 2024

Published 15 April 2024

Last week the FCA published the findings of its Financial Lives Survey on the cost of living, conducted this January. The FCA uses the survey to explore the finances of UK consumers and how they would assess their own situation. The survey was carried out between December 2023 and January 2024, with under 3,500 respondents.

The Budget: Do the sums add up for UK families?

Published 07 March 2024

Yesterday the Chancellor delivered the Spring Budget in Parliament. The purpose of the budget is to update Parliament on the state of the economy and to outline the Government’s proposals for changes to the tax system. This was arguably the last big economic event we will see from this Conservative government. The Prime Minister has told us to expect an election by the end of this year, so it is unlikely we would see another statement before then.

Is the cost-of-living crisis over?

Published 20 February 2024

Over the last few weeks, we have seen a lot of news pieces and data released about the country’s financial health and the associated impact on households. Inflation, recession, borrowing, spending, they have all been mentioned. Another phrase we have heard a lot in recent times is the ‘cost-of-living crisis’.

Cost of living paper

Published 27 November 2023

The FCA is taking the cost of living crisis seriously. To a certain extent, this is a continuation of a project that emerged from the COVID-19 pandemic. Cost of living has been the highest public agenda item at times and then fallen away as other issues emerged. As winter approaches and energy prices become a more significant factor, we will see pressure increase again.

Supporting Talk Money Week

Published 09 November 2023

We are now well into Talk Money Week 2023 run by the Money and Pensions Service (MaPs) which we are supporting. The purpose of Money Talk Week is to break the taboo of talking about money and encourage individuals to speak about their finances, something we still seem to struggle with here in UK. It is an annual campaign that organisations of all kinds can get involved with.

Up in the air: When is it appropriate to lend to those with CCJs?

Published 24 October 2022

In the latest issue of CCTA Magazine, we asked Lex Jones of the Registry Trust to talk a little more about the importance of the work that they do on county court judgments (CCJs). The CCTA is a strong supporter of their Get Satisfaction campaign. It is vital to ensure judgments are kept up to date. When CCJs are satisfied it is important that there is a record. This should be a win-win for both the customer and lenders.

Time to talk money

Published 10 November 2021

This week is Talk Money Week run by the Money and Pensions Service (MaPS). Set up by government, MaPS exists to ensure every person feels more in control of their finances throughout their lives. Talk Money Week is a campaign designed to increase people’s sense of financial wellbeing by encouraging them to open up about personal finance.

Is the cost of living on the increase?

Published 25 October 2021

We are being told that there is a rise in the ‘cost of living’ but what does this mean? Simply that the necessary costs we all face are going up, but what is driving this rise now? September saw a slight drop in inflation, but economists predict this is likely to only be a temporary dip before the rate continues to rise into next year. A rise in the level of inflation means the costs of goods and services have gone up, and this translates into a struggle for many as they try to manage their family finances, especially if wage growth cannot keep up.