FCA has published three more letters in its series of letters to firms on preparation for the Consumer Duty. The latest set relate to:
- debt advice firms;
- debt purchasers, debt collectors and debt administrators; and
- payment services and e-money firms. One element FCA focuses on it the use of SCA and how firms should consider the needs of all customers in offering appropriate authentication solutions. It also calls out work firms could to do minimise unnecessary or unnecessarily distressing freezing and similar actions on accounts.