Local Letter: Banks helping vulnerable people.
I recently spotted an item about bankers taking a very responsible approach to vulnerable people. Bankers have got a lot of bad press over the past few years and I was pleased to see some efforts being made to reverse that image. Here is a letter I sent to local press across London.
Financial Services Vulnerability Taskforce
I’m delighted to see that a new task force has been set up by the banks to help people facing problems with their finances.
The British Bankers Association has set up the Financial Services Vulnerability Taskforce, which will be headed by Joanna Elson from the Money Advice Trust, to help financial services firms identify and support vulnerable people with the right degree of empathy.
For many people, talking about money can be difficult and unsolved problems can lead to numerous difficulties, even losing the roof over your head.
The banking industry has justifiably faced a lot of criticism over the past few years, so I welcome them taking such proactive steps to improve the way they treat their customers.
Syed Kamall, MEP for London.