It’s a well-known fact that individuals who suffer from a hampered mental capacity - be it mental health or learning difficulties - are most likely to be vulnerable in our communities. They are also more likely to be victims of miss-sold products and services by companies, even though organisations that are providing financial products and services have a duty under the Financial Conduct Authority (FCA) to take extra care towards these individuals. This is what the FCA has to say about vulnerable customers: ‘ The vulnerability of the customer, in particular where the firm understands the customer has some form of mental capacity limitation or reasonably suspects this to be so because the customer displays indications of some form of mental capacity limitation (see ■ CONC 2.10) But due to a culture of intensive selling to consumers, generated by employers placing and enforcing - often difficult and unrealistic - performance goals which are attached to tempting
Welcome to Ripon Ray’s website. He has been practising in the debt sector for over 12 years, which included giving front-line debt advice, recovery, delivering training and managing regulatory compliance. To make the debt sector open to the wider public, he founded a monthly Debt Talk podcast to show the interlink between debt with other sectors where the leaders from these sectors share their knowledge. You can find Debt News, his media work and testimonials from varied experts related to debt.
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