What to watch – top trends and risks in banking litigation

What to watch – top trends  and risks in banking litigation

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Contributors

James Norris-Jones|James Brady|Georgina Rawson

Partner, Cleary Gottlieb Steen & Hamilton|Partner, Cleary Gottlieb Steen & Hamilton|Associate, Cleary Gottlieb Steen & Hamilton

jnorrisjones@cgsh.com|jbrady@cgsh.com|grawson@cgsh.com

Following 18 months dominated by the Covid-19 pandemic, banks like other businesses might have hoped for some respite. Instead, as we come out of the pandemic banks continue to face a wide and growing range of risks which may well result in the busiest period for banking litigation since the financial crisis. This will likely be combined with increased regulatory activity: the FCA has made clear that it intends to adopt a more assertive approach to enforcement, as well as prioritising customer welfare by introducing a Consumer Duty for financial institutions. We summarise below some of the major trends and risks in this space.

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