Consumer Protection Flashcards
1
Q
What do the FCA do
A
Regulate the conduct of financial service providers
Makes sure consumers provided with range of products and services
Funded by organisations it regulates
2
Q
What do the Financial Ombudsman Service (FOS) do?
A
Consumers who have unresolved complaint go there
Advice/decisions, based on facts
Impartial service
3
Q
What do the Financial Services Compensation Scheme (FSCS) do
A
Protect businesses authorised by the FCA from failing to pay consumers for financial loss
4
Q
What do the consumer credit legislation do
A
Regulates credit card purchases
Gives consumers protection when signing loan and hire purchase agreements
