Podcast ¦ Debt Talk: Debt Talk Consumer duty & the debt sector

Access the full podcast series here Summary In this podcast, the host discusses the implementation of the consumer duty principle in the financial services market. The panelists, including a senior researcher, a CEO, and a chief risk officer, provide insights on the importance of consumer outcomes, the challenges faced by firms, and the progress of implementation. They also emphasize the need for better financial education and the balance between compliance and sustainability in a competitive market. Key Points The consumer duty principle requires financial services firms to prioritize the needs of their customers and deliver good outcomes. The four pillars of consumer duty include products and services, price and value, consumer understanding, and customer support. Research shows that consumer understanding of financial communications is still lacking, especially among vulnerable customers. Financial firms face challenges in changing their communications, processes...

Access this content for FREE by signing up for ROAR Membership.

Join with a Basic (free) or Plus membership (for extra features).

Create an account by clicking here or if you have an account sign in below.