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<p>The Government recognises the need to support local communities in adapting to
changes in the banking landscape, and is committed to improving access to financial
services across both traditional and digital channels.</p><p> </p><p>The independent
financial services regulator, the Financial Conduct Authority (FCA), has recently
released a series of publications exploring the needs of elderly and vulnerable consumers.
In September 2017, the FCA published its Ageing Population Occasional Paper, which
reviewed the policy implications of an ageing population and the resulting impact
on financial services. In October 2017, the FCA also published its ‘Financial Lives
Survey’, the first in a series of annual large scale surveys (13,000 interviews).
This survey is designed to add a substantial new source of data to the regulator’s
understanding of consumers in the retail financial markets. In addition, in November
2017 the FCA published its ‘Approach to Consumers’ Paper, which details how the FCA
measures the effects of its actions on consumers, particularly with respect to access
and vulnerability.</p><p> </p><p>The Government supports the FCA’s work in this area
and will continue to work with it to ensure that all consumers are treated fairly.</p>
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