On 17 April 2019 the FCA published its Business Plan 2019/20 setting out its regulatory priorities for the coming year. In the Retail Lending space two areas of focus for the FCA in the High Cost Credit sector will be relending and affordability, while in the Retail Banking space the FCA's Payment Sector Strategy will take precedence. Fair treatment of existing customers and fair pricing in financial services remain the overarching theme for the FCA's focus for 2019/20.

Introduction

In January 2019 the Financial Conduct Authority (FCA) issued its annual Sector Views publication, outlining the drivers of change and potential harms the FCA has identified in the seven financial services sectors. On 17 April 2019 the FCA published its Business Plan 2019/20 setting out its response to these issues and, accordingly, its main areas of regulatory focus for 2019/20 in the relevant sectors. This note discusses the specific risks that the FCA has identified in the Retail Lending and Retail Banking and Payments sectors and its planned work to address these risks in these sectors in the coming year. It will also touch upon certain cross sector priorities particularly affecting the Retail sector.