LSB publishes summary report on customer vulnerability

Article summary

The Lending Standards Board (LSB) has published a summary report on its customer vulnerability review. The LSB Compliance team recently completed a thematic review which assessed whether vulnerable customers are receiving fair outcomes, in line with the LSB’s Standards of Lending Practice for personal and business customers. A number of themes emerged from the review, which are covered in detail in the report. They concern governance, controls and oversight; identifying vulnerability; and support.