Consumer protection trends

The tendency for consumers to use banking applications to manage subscriptions and personal finance in general has become increasingly common, in line with public policy objectives, regulatory expectations and the consumer protection priorities of organisations such as the Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA).

The CMA recently launched the CMA COVID-19 Taskforce, which as of 30th April 2020 has been investigating reports of businesses failing to respect cancellation rights during the pandemic.