UK watchdog proposes requiring banks to help struggling customers

Banks and building societies would be required to help customers struggling to repay their mortgages, Britain's financial watchdog said on Thursday in proposals to make COVID-era temporary rules permanent.

As Britain faces a cost of living crisis, the Financial Conduct Authority said it has also secured up to 47 million pounds ($59.32 million) of redress from 17 lenders for failures in supporting customers in difficulties. ($1 = 0.7923 pounds)

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