The Lending Standards Board is consulting on how well measures for protecting consumers and refunding the victims of scams are working and have published a consultation document.
The Contingent Reimbursement Model (CRM) Code was launched on 28 May 2019. The voluntary code sets out good industry practice for preventing and responding to APP scams. It also sets out the requisite level of care expected of customers to protect themselves from APP scams.
The consultation will form the basis for the LSB’s one year post-implementation review of the CRM Code.
The consultation sets out questions across four different areas: implementation, customer experience, prevention measures, and resolving claims.
Read, subscribe and share
This blog is from the latest edition of my newsletter “Payments, Payments, Payments”, read, subscribe and share at: