New guidance for people who manage a bank account on behalf of someone else due to mental incapacity or illness has been launched. The guidance sets out what bank and building society staff should look out for in situations where a customer’s ability to handle their own financial affairs is compromised and suggests what action they need to take. The framework, which is accompanied by a consumer guide, has been jointly developed by the Office of the Public Guardian (OPG), the British Bankers Association (BBA) and the Building Societies Association (BSA), in collaboration with the Law Society, Alzheimer’s Society, Solicitors for the Elderly and Age UK in a bid to reduce the administration faced by those who manage someone else’s finances......Read more here