Practical advice on treating potentially vulnerable customers fairly

By Jenny Ogden

A briefing note by the Royal College of Psychiatrists and the Money Advice Trust entitled ‘Lending, debt collection and mental health: 10 steps for treating potentially vulnerable customers fairly’ was released on 30 April 2014.

This briefing note is different in the way it concentrates on practical examples and suggestions. Too often, advice and guidance fails to bridge the gap between theory and practice. This briefing note offers useful and practical advice, backed up by real-life case studies.

There is increased attention in the financial services industry to all types of vulnerability, not just in the area of mental health. This briefing note brings advice in a previous note, which concentrated solely on mental health issues, up to date to encompass other types of vulnerability. The lessons learnt in respect of mental health, the industry approach to it, the processes and procedures in place to engage with individuals with mental health problems translate across the board for all types of vulnerability…

Click on the link below to read the rest of the Shoosmiths briefing.

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