The City regulator has warned debt management firms that they are not doing enough to help customers struggling under the weight of borrowing.
In a so-called Dear CEO letter yesterday, the Financial Conduct Authority said that debt management plans must be reviewed at least once a year and firms must keep in regular contact with their customers.
The FCA said that it had found non-compliance with its rules, prompting it to remind businesses of their obligations to customers often a final step before the launch of a formal investigation which could lea…
Read the full article at: http://www.thetimes.co.uk/article/debt-collectors-told-to-shape-up-by-fca-gvd2c827g
