The Financial Conduct Authority’s deputy CEO has said that further regulation or legislation is likely needed to help scale initiatives intended to tackle the financial inclusion gap.
Giving evidence at the Treasury Committee's Financial Inclusion Strategy inquiry hearing, FCA deputy CEO Sarah Pritchard discussed the regulator's work on financial inclusion and how it was making advice a "more inclusive" product. Pritchard stressed to MPs "we take financial inclusion really seriously at the FCA", citing several roundtables the regulator has organised to tackle the subject. These included roundtables on access to credit, SME finance and vulnerability issues. Open finance, targeted support and simplified advice were also brought up as ways the FCA was encouraging f...
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