DEMSA update: Credit Summit / StepChange plan / Open Banking / Consumer Duty / ESG / Operational Resilience / Events

In the bulletin today:

FCA keynote at Credit Summit 2022General UpdateStepChange 4-year planFuture of Open BankingSale of Credit Kudos to AppleOperational Resilience and ESGDebt Resolution StrategiesCSA Level 3 Debt Adviser apprenticeship schemeEvents

FCA keynote – ‘Supporting consumers through tough times’

Brian Corr, Interim Director of Retail Lending at the FCA, was upfront in the main hall at the Credit Summit and he reinforced a number of the key messages that we have relayed in previous bulletins around not waiting for the Consumer Duty policy rules before getting started. He referenced the Debt Packager intervention, but provided no insight as to the revised timeline for the new policy rules. My feeling was that Brian’s references to collaboration with The Insolvency Service were over-stated.  

Quote: “… you don’t need to wait for us to give detailed rules – you can get a head-start now by making sure you have the right mindset, culture and data in place, and l...

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