Last year, we confirmed our plans to introduce a new Consumer Duty that will set higher and clearer standards of consumer protection across financial services and require firms to put their customers’ needs first. 

We hosted a webinar on 23 March 2023 for the Credit Union and CDFI sectors to help firms understand our expectations and prepare for implementation.

We focused on the following areas:

• The background to, and key elements of, the Consumer Duty 
• Our expectations for firms, including key milestones during the implementation period, and how the Duty applies proportionately 
• The scope and application of the Duty for Credit Unions and CDFIs

Visit the Consumer Duty section on our website for updated information and additional resources.