Treating Customers Fairly (TCF) is a topic which is very high on the FCA’s agenda. The FCA expects TCF to be central to firms’ business models and culture with the consumer being at the heart of everything they do. Firms are required to demonstrate that they consistently treat their customers fairly and are delivering their services against the TCF outcomes relevant to their business.
The FCA places responsibility on senior management to embed TCF in the culture of their businesses. This allows firms some degree of flexibility in approach but, it is imperative that they get it right – where the FCA finds failings in a firm around TCF it will use its full regulatory powers to take action.
Are your customers at the heart of your business? They should be.
Read our recent blog posts on TCF
- Recent European Case Law looks at requirement for consumer terms to be plain and intelligible
- Dealing with customers in early arrears
- Financial Ombudsman Service – Plans and Budget for 2017/18
- Debt and Mental Health