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Summary
The podcast features an interview with Chris Lesley, the CEO of the Credit Services Association (CSA), who discusses the impact of the Consumer Duty on the debt collection industry. Lesley mentions that the industry is accustomed to high standards due to regulation from the FCA and the CSA's code of practice. He believes that the emphasis of the Consumer Duty is shifting towards helping customers get out of debt rather than solely focusing on repayment to creditors. Additionally, there is a discussion about the exchange of data between debt advisors and creditors, and the need for better data sharing to understand customer situations.
Key Points
Chris Lesley, CEO of the CSA, discusses the impact of the Consumer Duty on the debt collection industry.
The debt collection sector is accustomed to high standards and scrutiny from multiple regulators.
The focus of the Consumer Duty is shifting towards helping customers get out of debt ra...
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