UK watchdog investigating banks failing to help struggling customers

LONDON, Sept 29 (Reuters) - Britain's Financial Conduct Authority said on Thursday it is investigating banks which are failing to do enough to help customers struggling during the cost of living crisis and would intervene if need be.

"We’ve told lenders that we expect them to support struggling customers, particularly as they have the data to spot the warning signs first," FCA executive director for competition and consumers Sheldon Mills told a City & Financial conference.

"We have identified 30 firms that need to do more to help struggling customers and will investigate the activities of 40 more." (Reporting by Huw Jones; Editing by Alison Williams)