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The Credit Services Association (CSA)
Statement from CSA in response to FCA Thematic Review
Following the release of the FCA Business Plan, we will continue to work closely with the regulator as it examines the conduct of agencies, and how consumer debts are collected, in line with the rules published in CONC.
The announcement ahead of the FCA’s keynote speech at the Credit Summit on 26 March 2015, to review staff remuneration in debt collection agencies does not come as a surprise, and indeed has been an active topic of conversation, discussion and debate for some time, including at our 2015 CSA Members' Meeting and AGM and recent Compliance Forums. We welcome the opportunity of sharing with the FCA the work that our members are already doing to demonstrate that remuneration, incentivisation and reward continues to be closely aligned to TCF compliance and positive customer outcomes.