The Council of Mortgage Lenders has today responded to the Financial Conduct Authority’s discussion paper on the ageing population and financial services, strongly supporting its message of collaboration and urging a regulatory focus on helping firms to achieve better outcomes for older consumers. The CML has also published a new article looking at the issues.
Paul Smee, CML director general, says:
“We are keen to help our members grasp the nettle of finding safe and appropriate ways of lending to older people in line with their needs and aspirations. We firmly recognise that sits within a wider framework of advice and service provision across financial services, and we would welcome leadership from the FCA, the PRA and HM Treasury to help this important agenda make progress.”