On 14 June 2017, the UK Cards Association (UKCA) and the Finance & Leasing Association (FLA) published a guide for lending to vulnerable customers.
The guide is designed to help finance providers identify and support customers in vulnerable situations when applying for credit, whether face-to-face, over the phone, online or through an intermediary. It primarily focuses on supporting customers with a mental capacity limitation that may affect their decision-making abilities, although the guide also recognises that customers can experience other forms of decision-making difficulty.
The context for much of the guide is the FCA's Consumer Credit sourcebook (CONC) and the FCA's guidance for lenders on mental capacity. This is the second guide developed by the PFRC. In March 2017, it produced a guide on supporting vulnerable customers during the debt collection process, again in partnership with the UKCA and the FLA. In September 2016, the FCA published the key findings from a thematic review of financially vulnerable customers