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FCA to review lenders’ fair value assessments
The Financial Conduct Authority (FCA) is to conduct a review of lenders’ fair value assessments, following concerns that not all savers are getting good deals.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
Senior Journalist, covering the Credit Strategy and Turnaround, Restructuring & Insolvency News brands.
It comes just over a month after the full implementation of the Consumer Duty.
As part of its analysis, the regulator will look at the information banks and building societies have provided – publishing the results of the said review later this autumn, including any steps that may be taken if it identifies areas of concern.
It comes as the FCA has an increase in the number of savings accounts offering higher interest rates – both in term limited and easy access accounts. It’s also seen moves by some providers to align the rates available on accounts currently on sale and those now closed.
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