Why the new chancellor must rebalance growth and consumer protection

'Healy should re-empower the FCA to unleash the full potential of Consumer Duty'

clock • 3 min read

James Daley argues chancellor John Healey must rebalance growth and consumer protection...

I've spent the last 25 years of my career reporting on and campaigning for a better deal for customers of financial services companies. And the progress over that time has been tangible. Mis-selling scandals have become much less common. In fact, my view is that the car finance episode will be the last of the major mass redress scandals of this era. Furthermore, the Financial Conduct Authority's (FCA) landmark Consumer Duty policy – which it launched three years ago – has raised expectations even higher, with firms now asked to prove that they are working to deliver good customer outc...

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