This includes regulatory requirements such as the Consumer Protection Code and The Code of Conduct on Mortgage Arrears (CCMA), which govern how lenders interact with retail borrowers that are in distress. Firms must also follow the Mortgage Arrears Resolution Process (MARP) when dealing with borrowers facing arrears. The MARP process also requires alternative options if a restructure cannot be agreed or was not appropriate.
Money Pacific Goal number four, as an overriding Goal, aims to reduce, by half, the number of people who do not have access to even the most basic financial services. Ladies and gentlemen, To achieve the common purpose of a great inclusive financial environment, all stakeholders need to work together.