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Funding platforms rake in £1.3bn a 12 months from zero curiosity offers on money deposits

The FCA letter on 28 September 7 to the brokers mentioned: “Where interest payments are accrued on customers’ cash balances held by firms, this should be carefully considered as part of fair value assessments and to ensure appropriate disclosure, especially in the current economic environment of higher interest rates. Our expectation is that firms deliver fair value to customers and support consumer understanding in line with the requirements of the Consumer Duty.”

Content Source: www.normal.co.uk

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