Action threatened over poor practice by lenders, as consumers struggle with bills

As many as 70 per cent of lenders could be failing to meet FCA expectations on how repayment agreements should be adapted for millions of borrowers who are struggling during the cost-of-living crisis.

By Neasa MacErlean

And the regulator is warning that it will "take action to restrict or stop firms from lending to people if they fail to meet our requirements that consumers in financial difficulties should be treated fairly".