FCA ups its activities to tackle poor standards in debt packager firms

By Neasa MacErlean

AnFCA review into debt packager firms has seen six of them stop providingservices to the public — and could result in “policy changes to address thesignificant potential for harm through poor advice that the debt packagerbusiness model poses”. Practices in the sector fall “far short of the standardswe expect”, said Sheldon Mills, FCA executive director (Consumers andCompetition).