Call for FCA to define half the UK as 'vulnerable' consumers

Suitable Strategies director Neil Bage said research suggested almost a third of the population have "very little confidence in their understanding of even basic financial terms and products" making them vulnerable targets of misselling practices. He said: "Over half the UK population is vulnerable when it comes to fully grasping financial terms, concepts, products and services. This is why the industry must do more to thorough assess consumer understanding, or risk yet more mis-selling scandals." The Financial Conduct Authority (FCA) warned in February it had found 'problems at every...