Responding to the Financial Conduct Authority's (FCA) consultation on proposed guidance for the fair treatment of vulnerable customers, Eric Leenders, Managing Director of Personal Finance, UK Finance, said:

The financial services industry is committed to looking after every customer, especially those in vulnerable circumstances.

"The proposed FCA guidance provides welcome clarity, setting out a practical framework to help firms identify potentially vulnerable customers and ensure they are treated fairly and consistently.

"This will build on the significant programme of work being undertaken by the industry in this area, including implementing the recommendations of the Financial Services Vulnerability Taskforce, improving the way family members or carers can help manage bank accounts and introducing a new code of practice to support victims of financial abuse.

"UK Finance will continue to work closely alongside its members, the regulator and other stakeholders as this guidance is finalised and implemented, to ensure vulnerable customers receive the best possible support.