In line with the release of the FCA’s Thematic Review in Arrears Management in Unsecured Lending, at YnR we have carried out our own mini review on this important function.
What did we find?
Whilst most organisations have relevant policies and procedures in place and frontline staff fully trained on TCF and Vulnerable Customers. This is a vast improvement and a move in the right direction, however, for some organisations we have found in essence this has been translated to acceptance of information relayed by the customer. So may I say it? This is resulting in over forbearance and…