The Financial Conduct Authority (FCA) has written to all consumer credit firms regarding their complaint handling procedures having found areas of concern following a recent review.
The Financial Conduct Authority (FCA) has written to all consumer credit firms regarding their complaint handling procedures having found areas of concern following a recent review.
The FCA is concerned about some of the practices they discovered, including:
• a failure to provide customers with the required information about the Financial Ombudsman Service
• a failure to provide customers with a clear explanation of the outcome of the complaint
• a lack of management controls in place to analyse and remedy any root causes of complaints or systemic problems
The BVRLA is advising members who are regulated by the FCA to make sure that their complaints processes and procedures are robust and in line with FCA rules and that they have a process in place for using complaints to identify common issues and use the information to help make improvements where necessary.
Members can read more about complaint handling on the FCA website
Members can also contact BVRLA Compliance & Governance Executive, Adam Holt for further support to ensure compliance.
Media Contacts
As well as responding to enquiries about the vehicle leasing and rental industry, the BVRLA can provide insightful comment and advice to journalists on a range of motoring issues.
Toby Poston, Director of Communications & External Relations
Tel: 01494 545700 / 07979 756533
[email protected]
Andrea Davies, Media Relations & Communications Manager
Tel: 01494 545710 / 07790 271806
[email protected]
Tamsin Stuczynska, Marketing & Communications Executive
Tel: 01494 545707
tamsin
