1. Money Advice Scotland Annual Conference & Exhibition 2016
Crieff Hydro, 2nd & 3rd June 2016

2. helping those who need us most Money Advice Scotland 3 June 2016
workingtogether
helping those who need us most
Money Advice Scotland
3 June 2016

3. businesses we cover
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4. we also cover…
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5. things you might hear “they won’t accept our repayment offer…”
“they won’t cancel the CPA…”
“we have no where to live until the insurer sorts out our flood claim”
“why has the credit broker taken a fee when I didn’t take out a loan?…”
“I can’t find a bank account…”

6. basics and background

7. making a complaint Business has the chance to sort things out first –
If the consumer is still unhappy then its our turn to take a look.
We may be able to look at it sooner.

8. good industry practice
how do we do it?
good industry practice
best practice
regulations
consumers don’t need to be experts
both sides of the story
&
reasonable
fair
terms & conditions
law
based on facts
codes of practice
balance of probabilities

9. fair and reasonable

10. how we work get in touch with us our ombudsman’s decisions are binding
our case handlers will investigate

11. putting things right money loss compensation interest costs
instructions

12. who’s vulnerable? probably all of us – at times!
“A vulnerable consumer is someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care” - FCA Occasional Paper No 8 / February 2015
accompanying ‘Practitioners Pack’

13. what might make people vulnerable?
poor health – mental or physical
bereavement
divorce and family break down
unemployment or reduced income
debt and financial hardship
abusive partners or fear
their environment and background – e.g. language
people have different thresholds – we’re all different

14. what we expect from businesses
accessibility – reasonable adjustments
empathetic staff who listen, read and think carefully
the ability to recognise when customers are vulnerable
broad, holistic thinking – what is this customer’s situation?
a flexible approach with clear communication
tailored, bespoke, fair options for customers
signposting to free help and advice

15. lending and financial difficulty
“Before lending any money, granting or increasing an overdraft or other borrowing, subscribers should assess whether the customer will be able to repay it in a sustainable manner.”
“Subscribers should be sympathetic and positive when considering a customer’s financial difficulties….when income is insufficient to cover reasonable living expenses and meet financial commitments when they become due.”
from The Lending Code

16. assistance from the ombudsman
translations
adapted documentation
sophisticated website options – includes browse aloud
BSL interpreter service
casework advisers – a helping hand
informed and aware staff
access to experts and charities

17. any time left for a case study?

18. ! need a hand? 020 7964 1400 (9am - 6pm, Mon to Fri) !
complaint data about individual businesses
publication of final decisions
ombudsman news