<ul><li><strong>Vulnerable customers: </strong>The financial services industry is committed to helping customers in vulnerable circumstances including through implementing the <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c…; of the Financial Services Vulnerability Taskforce. These include providing a sensitive and flexible response, forbearance, lending criteria and vulnerability and the use of escalation points.</li>
</ul><ul><li><strong>Financial abuse: </strong>In November 2018, the financial services industry committed to new <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… of practice</a> to support victims of financial abuse that is being rolled out over the course of 2019. A list of the firms who have committed to the voluntary agreement can be found <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c…;
</ul><ul><li><strong>Duty of care: </strong>The FCA?s recent <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… Statement</a> on a duty of care concluded that ?consumer harm can be caused by different things, so there is unlikely to be a one-size-fits-all solution to any weaknesses in consumer protection?. Regarding introducing a statutory Duty of Care, the FCA added that ?We do not consider that this is a sufficient basis for making changes to primary legislation?.</li>
</ul><ul><li><strong>Branch closures: </strong>To ensure communities can still access the services they need when branches are closed, banks conduct impact assessments of the branch closure covering the alternatives available to the community for access to cash, not just access to ATMs, but also mobile branches and the Post Office. This analysis works on the existing alternative provision rather than the assumption of a third party stepping in to provide an alternative access. The revised Access to Banking Standard launched by the industry (following an independent review) in May 2017 provide a channel and process for LINK (and their members) to monitor and action publicly available information (on each bank?s website) on bank branch closures. The Standards provide for a 3-month notification of a bank branch closure and an indication if an ATM will be affected. The revised Standards apply to all bank branch closures announced after 1 May 2017.</li>
</ul><ul><li><strong>Accessibility: </strong>Banks offer a range of services to support blind and deaf customers, including talking ATMs, cards and statements with braille markings, sign language web chats and mobile banking apps that use voice and touch recognition.</li>
</ul><ul><li><strong>Post Office: </strong>High-street banks have arranged for everyday banking services to be available through 11,500 Post Offices across the country. At the Post Office, personal banking customers can now: withdraw cash, deposit cash or check their bank balance. Business customers can: deposit cash or cheques into their business bank account, withdraw money from their business bank account, check their current balance or get change when they need it. A <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… action plan</a> to raise awareness of the service was launched in 2018.</li>
</ul><ul><li><strong>Protecting customers from scams: </strong>UK Finance has worked with consumer groups as part of the Authorised Push Payment Steering Group to <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… a Voluntary Code</a> to better protect customers and reduce the occurrence of authorised push payment fraud. The Code was published in February and will become effective for signatory firms on 28 May 2019.</li>
</ul><ul><li><strong>Cash: </strong>UK Finance?s <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… Payment Markets 2018</a> report showed that while debit card payments (13.2 billion) overtook cash payments (13.1 billion) as the most common payment method in 2017, cash is forecasted to still retain its place as the second most frequently used payment method in 2027.</li>
</ul><ul><li><strong>Basic bank accounts: </strong>As of 30 June 2018 there were almost 7.5 million (7,455,960) basic bank accounts open at the nine designated institutions (see <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… ?Basic bank accounts?</a> which also includes more background information on basic bank accounts).</li>
</ul><ul><li><strong>Loyalty penalty: </strong>The industry has already implemented a number of remedies to improve competition in the mortgages and cash savings market to encourage customers to shop around to get the best possible deal. Switching among mortgage customers is high with three quarters switching within six months of the end of a fixed rate period. Mortgage lenders are required to inform customers before they move on to a new rate, including at the end of a fixed rate or discounted period.  A package of improvements have been introduced to help savers, including communicating more clearly with customers about the rates they receive, faster Cash ISA transfers and enhanced customer prompts before a rate is reduced. In July 2018 UK Finance launched a cross-industry voluntary initiative to help longstanding mortgage borrowers on reversion rates to switch to an alternative product. We are currently working with the regulator and government to consider what more could be done for customers when mortgage providers are no longer active in the market, which may include a change to the current rules to make it possible to switch a like-for-like mortgage to a different lender more easily.</li>
</ul><ul><li><strong>Gambling blocks: </strong>UK Finance is liaising closely with the Gambling Commission and consumer groups to build on existing initiatives by individual banks, including schemes that allow customers to block the use of their card for online gambling.</li>
</ul><ul><li><strong>Power of attorney: </strong>The financial services industry has undertaken significant work to streamline processes for registering powers of attorney, making it easier for approved third parties to manage a customer?s account. The new <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c… guidance</a> published this week is a positive step, providing greater clarity and consistency for firms dealing with powers of attorney and deputyships across the regulated sectors.</li>
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