Rocio Concha, Which? Director of Policy and Advocacy, said: "Our research shows that in the last month, as many as six in ten consumers have taken steps to reduce their expenditure in the face of spiralling costs, by cutting back on essentials, dipping into savings or borrowing to cover payments. "Which? has been calling on the government and regulators to closely monitor how businesses are supporting their customers during the cost of living crisis and take action if they could be causing any consumer harm. "It is deeply concerning that more than half of the lenders examined by the Financial Conduct Authority had serious failings and need to make improvements in the way they treat their customers. The FCA should not hesitate to use its enforcement powers if these improvements are not made." -ENDS-
