MPs launch inquiry into vulnerable consumer access to financial services

The committee will look into whether certain groups of consumers are excluded from a basic level of service from financial services providers. It will also examine whether vulnerable consumers pay more for financial services. The committee said it would like to see evidence of how regulators hold financial firms to account for how they treat vulnerable customers, and how regulators instruct firms to comply with equalities legislation. It would also like to see evidence of how service providers define ‘vulnerable', as well as evidence on the controls in place for power of attorney. The...