For firms subject to the Consumer Duty, the first annual report is on the horizon and a firm’s board of directors will need to review and approve the report, provide confirmations, carry out assessments and agree actions. The process involves more than simply reviewing and approving a document. The Financial Conduct Authority (the FCA) will […]
Tag Archives: consumer duty
THE CONSUMER DUTY ANNUAL REPORT: POINTS FOR BOARDS TO CONSIDER
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Also tagged board of directors, boards, Consumer Duty annual report, Consumer Duty monitoring, consumer outcomes, retail customers, strategy
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FCA STRATEGY FOR CONSUMER LENDING – DEAR CEO LETTER OF 20 MARCH 2024
In a Dear CEO letter issued on 20 March 2024[1], the Financial Conduct Authority set out its agenda for the next two years for three portfolios in the consumer lending market: high-cost lending; mainstream consumer lending; and credit unions. The FCA says that A significant part of our supervisory activity over the next two years […]
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Also tagged access to credit, affordability, boards, complaints-handling, consumer lending, consumers, cost of living, Dear CEO letter, FCA, governance, vulnerable customers
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