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FCA fines Lloyds Bank, Bank of Scotland and The Mortgage Business £64,046,800 for failures in mortgage arrears handling
The FCA has fined Lloyds Bank, Bank of Scotland and The Mortgage Business £64,046,800 for failures in mortgage arrears handling. The banks estimate they will have paid £300 million in customer redress. The redress programme is nearly complete. -
Financial Services & Markets Act 2023 gives FCA new powers to protect access to cash
FCA’s new powers are an important step towards maintaining reasonable provision of cash deposit and withdrawal services. -
FCA finds the Covid-19 pandemic leaves over a quarter of UK adults with low financial resilience
The Financial Conduct Authority (FCA) has released its latest Financial Lives survey (FLS), looking at consumers’ financial situations, the financial products they choose and their experiences of engaging with financial services firms. -
Financial Lives 2020 survey: the impact of coronavirus
The Executive Summary for the FCA’s Financial Lives 2020 survey and October 2020 Covid-19 panel survey. -
Review of later-life mortgages finds poor advice and misleading promotions
The review looked at firms responsible for around half of all lifetime mortgage sales. -
FCA fines Barclays £72 million for poor handling of financial crime risks
This contains guidance on steps firms can take to reduce their financial crime risk, including in their dealings with high risk and PEP customers. ... Politically Exposed Persons (PEPs) are individuals whose prominent position in public life may make -
FCA fines guarantor lender TFS Loans Ltd (in administration) and requires it to provide redress to affected guarantors
We have fined TFS Loans Ltd (in administration) £811,900 in relation to deficient affordability checks on 3,150 guarantors in its consumer credit business. -
TR14/3 - Thematic Review - Mortgage lenders’ arrears management and forbearance
This report summarises the key findings of our thematic review of mortgage lenders’ arrears management and forbearance. -
Consumer Duty: Findings from our review of fair value frameworks
Read the findings of our review into firms’ approaches to fair value assessments under the Consumer Duty. -
Rent-to-own, buy-now pay-later and pawnbroking agreements and coronavirus: draft temporary guidance for firms
The FCA's guidance to regulated firms that enter into rent-to-own (RTO), buy-now pay-later (BNPL) (as defined in the FCA Handbook), or pawnbroking agreements and applies in the exceptional circumstances arising out of the coronavirus (Covid-19)