Response to the FCA’s Consultation Guidance for firms on the fair treatment of vulnerable customers31 July 2020
The LSB welcomes the FCA’s Consultation Guidance for firms on the fair treatment of vulnerable customers.
As a result of the pandemic, many people who would not previously have been considered vulnerable may now be at risk and require support and assistance. Firms have already made good progress with their approach to vulnerability, as highlighted in the Consultation Guidance, but they should now consider whether their existing approach to vulnerability is still suitable, or whether changes should be made to adapt to customers needs.
We look forward to continue working with key stakeholders to ensure the best possible outcomes for all customers.