NEWS: What do good banking outcomes look like to consumers?

November 2, 2017

The Banking Standards Board has launched a Consultation Paper on ‘What do good banking outcomes look like to consumers’.  The BSB is keen to gain views, particularly from consumer and civil society organisations, about what the outcomes of a good banking culture look like to consumers.  This will inform the its work to identify good practice by helping them to develop and refine a framework for this thinking. Access is an important aspect of this consultation.

To facilitate its thinking the BSB has developed what they have called its Consumer Framework. The intention behind this framework is to:

1. Enable it to increase its understanding of consumer issues and concerns as they relate to aspects of the BSB’s work;

2. Provide the basis for the creation of good practice guidelines for firms that serve consumers, along with a common language for both firms and consumer organisations; and

3. Enable consumer and civil society organisations to engage more readily with aspects of its work.

The deadline for responses is 26 January 2017 and for more information and to download the consultation visit: https://www.bankingstandardsboard.org.uk/bsb-consultation-what-do-good-banking-outcomes-look-like-to-consumers/