Emerging Payments Association hits out at FCA Consumer Duty proposals

The Emerging Payments Association (EPA), which promotes collaboration and innovation across payments, has today published a paper containing the community’s responses to the Financial Conduct Authority (FCA) CP21/13 “A New Consumer Duty” Call for Evidence, highlighting how an additional Consumer Duty would be unlikely to enhance the customer centricity of those payments firms that are not providing sufficient value, while adding compliance and benchmarking costs to those that are already doing so.

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