Regulatory AlertsPS24/2: Strengthening protections for borrowers in financial difficulty: Consumer credit and mortgages
The Financial Conduct Authority issued Policy Statement PS24/2 to implement final rules strengthening protections for borrowers in financial difficulty. The document mandates specific requirements for consumer credit and mortgage lenders to ensure fair treatment of customers experiencing financial hardship. These measures aim to improve outcomes for vulnerable borrowers by enforcing stricter standards on how firms handle arrears and debt management.
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