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…
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