Complying with guidance on the treatment of vulnerable customers
Due to the impact of Covid-19, the number of potentially vulnerable customers has increased exponentially. Over a quarter of UK adults have low financial resilience.
Over the course of 2020, the FCA made several provisions for customers at increased risk of vulnerability due to the pandemic in areas such as mortgages and consumer credit. COVID-19 related customer vulnerability will remain a key factor for firms to consider for some time to come.
In February 2021 the FCA published its finalised guidance for firms on the fair treatment of vulnerable customers, further defining its expectations in this area.
Continue reading
This content is not freely available. To access 'Complying with guidance on the treatment of vulnerable customers' you need to be one of the following:
ACA student
This content is available to ACA students. If you want to start the ACA qualification there are several routes you can take
Business and Finance Professional
An internationally recognised designation and professional status from the ICAEW.
Financial Services Faculty: Banking
Expert analysis of trends and challenges in banking and technical resources in financial reporting, auditing and regulation.