Government urges regulators to work together to help vulnerable customers
Report slams the loyalty penalty among other issues to be tackled in the financial services, water, energy and telecoms sectors.
The House of Commons Committee of Public Accounts has urged regulators in the financial services, water, energy and telecoms sectors to work together to prevent consumers being exploited.
The committee argued that the regulators in these sectors have a statutory responsibility to protect the interests of customers, particularly vulnerable consumers.
It detailed that the problems faced are often the same across all sectors – difficulty with switching to better deals, paying bills, mounting
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