In 2022 the Financial Conduct Authority, launched a new set of rules called Consumer Duty.
The rules have been put in place to raise standards and trust in financial services, and to improve outcomes for consumers. The idea is that financial services providers, including credit unions, must always act in good faith to customers (in our case members) and avoid any foreseeable harm caused by using our services. The aim is to support people in pursuing their financial objectives.
Hoot is expected to have the interests of members at heart and treat them fairly. We must strive to deliver good outcomes for our members.