Consumer panel raises concerns

Concerns over customer protection have been aired by the Financial Services Consumer Panel in respon...

Concerns over customer protection have been aired by the Financial Services Consumer Panel in response to the Financial Services Authority's (FSA) first consultation paper on regulating mortgages. The panel, which was formed by the FSA to report on its performance in meeting statutory objectives, claims that the consultation paper does not go far enough to meet the standards needed to protect borrowers who are in mortgage arrears or the requirements for staff training and competence. Colin Brown, chairman of the Financial Service Consumer Panel, said: "The FSA has done its best to constru...