Joint letter from regulators targets finance and utility sectors for volume and tone of correspondence to vulnerable customers
UK regulators are warning they will take “robust action” against firms that are putting consumers’ mental health at risk by using threatening tones and inundating already-vulnerable borrowers with letters, calls and emails, about their debts.
Watchdogs have published a joint letter, calling on companies to improve their debt collection practices, after identifying shortcomings across the financial services industry, as well the communications, water and energy sectors.
