For many years, banks have been closing local branches all over Wales. The recent shift towards online banking, and a tendency to charge fees on certain types of accounts have created obstacles for people, with charitable and community organisations often being the worst affected.
However, the Financial Conduct Authority (FCA) published a 'Consumer Duty' back in 2022; a set of rules that set higher standards for banks, to ensure that their customers are protected and that their needs are the number one priority.
I am determined to ensure that the banks are held to account regarding the requirements from the FCA, but to do so, I must first understand the challenges faced by people when banking. Therefore, I am carrying out a survey, aimed at members and officers of charitable and community organizations across Ceredigion to collect a wide range of experiences. I am eager to see if the FCA’s ‘Consumer Duty’ has improved the service in Ceredigion and lightened the burden for organisations. It would be greatly appreciated if you could answer as many questions as possible before 1 March 2024.
If you have any questions about the survey, please do not hesitate to contact me at [email protected]. Thank you very much in advance.