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FCA response to the independent panels’ annual reports
In line with its statutory requirement, the FCA responds to key representations made by the Panels in their respective Annual Reports. -
Insurance providers warned not to undervalue cars or other insured items when settling claims
Insurance firms have been warned not to undervalue cars and other insured items when settling insurance claims especially during the cost of living squeeze. -
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. -
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. -
Improvements needed to the credit information market to deliver better lending decisions for borrowers
The Financial Conduct Authority (FCA) has set out proposals to improve the credit information sector so it can deliver higher quality and more comprehensive information for consumers and firms. -
Firms should strengthen anti-fraud systems and must treat victims of fraud better, review finds
We are working with payment service providers to do more to protect consumers from fraud, including authorised push payment (APP) fraud -
Our emerging regulatory approach to Big Tech and Artificial Intelligence
Speech by Nikhil Rathi, our Chief Executive, delivered at The Economist, London. -
Rent-to-own provider BrightHouse to provide over £14.8 million in redress to around 249,000 customers
Following engagement with the FCA, BrightHouse has committed to pay over £14.8 million (in the form of cash payments and balance adjustments) to 249,000 customers in respect of 384,000 agreements for lending which may not have been affordable and -
High-cost short-term credit and coronavirus: temporary guidance for firms
This guidance applies to regulated firms that enter into high-cost short-term credit (HCSTC) loans, including payday loans. In addition, this guidance applies to firms that have acquired such loans. It applies to both current loans and loans entered -
FCA fines Yorkshire Building Society £4,135,600 for failings in dealing with customers in mortgage arrears
By allowing cases to drift without agreement, YBS’s actions meant that customers in vulnerable circumstances risked falling into further financial difficulty.”. ... The FCA ordered a Skilled Person review in May 2013 which found that in 64 out of 87