We are hosting the LSB’s Emerging Risk Forum online on Thursday 21 April 2022 between 11:00-12:00. Focusing on issues relating to the personal Standards, the Forum is an opportunity to meet and learn from colleagues across the industry in a Chatham House rules environment. Below is a summary of the topics we will cover on the day. If you are interested in attending, please check availability by contacting us at firstname.lastname@example.org
Cost of living crisis
What are firms doing in relation to the cost of living crisis and how do they feel their customers will be impacted? Is there expected to be an increase in the number of those in difficulty and what is the right way to offer support during this time?
FCA’s Consumer Duty
What are firms thoughts on the FCA’s Consumer Duty and how are they intending to implement it throughout the firm? How will it change how firms communicate with and support customers?
External events and staff awareness
Do firms provide training and information to staff when an external event occurs that could impact customers (for example, when cuts were announced to benefits such as Universal Credit)? Do firms consider it important that staff understand the various events that could impact customers’ ability to stay out of difficulties, or do business as usual procedures account for this?
How do firms ensure that consolidation loans help customers in debt achieve their goals? Are consolidation loans used as a potential trigger for financial difficulties? Is there greater space for education on getting out of debt or reducing credit dependency, especially when consolidation loans are provided?