Consumer Duty Conversations: Living the Duty - key focus areas for consumer credit & payment firms

The secured and unsecured lending market is already subject to substantial regulation and successfully integrating the Duty poses new challenges. Experts from our financial services team will shed light onto what lending and payment firms can learn from the early months of the Duty and how to avoid key pitfalls.

Successfully integrating the Duty poses new challenges, for example, ensuring understanding of mandatory communications and new processes (such as value assessments) are completed and utilised as the FCA intends. The Duty envisages a continuing cycle of improvement, and the FCA has shown itself to be proactive in its use of the Duty.

So what can lending and payment firms learn from the early months of the Duty? How can payments firms apply the Duty in the context of authorised push payment fraud? What do lenders and debt purchasers need to be mindful of when selling and buying books of loans?

Join experts from our financial services team (including ex-regulators), as we provide some insights into these questions and ways to avoid some of the key pitfalls firms may face.