FSA told 'target banks not consumers' as paper released

The criticism from advisers and the Financial Services Consumer Panel (FSCP) comes as the regulator launches a new discussion paper to explore what steps can be taken to help consumers understand and protect their own best interests more effectively. However, the Financial Services Consumer Panel (FSCP) has slammed the FSA for focusing on consumer responsibility at a time when large sections of the industry are not giving consumers a fair deal. Adam Phillips, the FSCP's acting chairman, says: "Clearly, the industry has been putting pressure on the FSA to increase consumer obligations. Whi...