Gareth Shaw, Head of Money at Which?, said:
“The financial impact of coronavirus will mean that many who were previously in good financial health will now require help from their banks to see them through the coming months, so it is right that the FCA is stepping in to make sure they can get support.
“Banks must ensure they are informing their customers, particularly their more vulnerable ones, about these options, and making them aware of the terms of these measures so they can decide whether it’s the best option available to them before applying.”
Notes to editors:
- Which? is a non-profit organisation working to make life simpler, fairer and safer for consumers. During the coronavirus crisis, Which? is making a range of news, advice and guides available for free for anyone who needs it at https://www.which.co.uk/news/coronavirus
- Which? urges clarity on financial help for bank customers during coronavirus crisis – https://press.which.co.uk/whichpressreleases/which-urges-clarity-on-financial-help-for-bank-customers-during-coronavirus-crisis/