A Bite-Sized Guide to Consumer Credit & Supporting Vulnerable Customers

Introduction

With the Consumer Duty setting ever higher standards of consumer protection across financial services, the fair treatment of vulnerable customers continues to be a primary concern for the FCA.

Under the Duty, firms must act to deliver good outcomes for all customers, including those with vulnerability characteristics.

This short webinar will consider how consumer credit firms are expected to identify those customers and be able to demonstrate that they are working towards good outcomes for all.

It is suitable for professionals within consumer credit firms, those advising them and anyone with an interest in this developing area of law.

What You Will Learn

The webinar will cover the following:

• The FCA’s definition of ‘vulnerable customers’
• How different characteristics of vulnerability can be identified
• Understanding the impact of vulnerability on customers’ needs
• Embedding the fair treatment of vulnerable customers across the workforce
• Designing products with vulnerable customers in mind
• Appropriate customer service
• Communication with vulnerable customers
• Monitoring and evaluation of outcomes
• Good and bad practice
• Likely enforcement approach