The regulator has also sent seven cease and desist letters and issued 50 warning alerts.

The FCA will confirm within six weeks of the Supreme Court judgment whether it is proposing to introduce a redress scheme. 

The FCA Financial Lives survey found that 49% of adults are dealing with one or more characteristic of vulnerability.

The FCA has identified three situations where there was broad support for increased transparency.

Simon Taylor, senior director at Yonder Consulting, says a lack of consumer awareness around Consumer Duty presents an opportunity for banks and building societies to take bold action...

However, the more relaxed borrowing drives up house prices, the less impact there will be on transactions.

The Tribunal agreed the pair should pay "substantial financial penalties".

Mortgage holders with over £300,000 left to pay has nearly doubled in seven years.

The regulator will amend and update around 11,000 requirements, directions or limitations.

The regulator plans to consolidate five current returns into one.