FCA reveals vulnerable customer guidelines
Insurance Cares: The watchdog has called on financial services firms to do more to ensure vulnerable customers receive positive outcomes as it consults on guidance.
The Financial Conduct Authority has launched the second phase of its consultation on guidelines for how companies deal with vulnerable customers.
The regulator noted that more than 24m people display one or more potential characteristics of vulnerability – which include physical and mental health issues, recent life events such as bereavement, capability and financial resilience. Over a million people received debt advice last year.
The FCA says firms should do more to ensure that vulnerable
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