This free compliance 'spot check' is designed to deliver a quick evaluation of key vulnerabilities. It points out how to test, measure and evaluate risk.
Treating Customers Fairly (TCF)
The Financial Conduct Authority's (FCA) meaning of TCF puts the well-being of customers at the heart of how businesses are run.
When working within the arena of credit management and vehicle or asset repossession, the Financial Conduct Authority expects the needs of the 'lenders customer' and their interests, to be at the heart of how we do business.
"Customers can expect to get financial services and products that meet their needs from firms that they can trust."
The FCA and management of Treating Customers Fairly:
- Fact based compliance which evidences TCF
- Management information designed to deliver TCF outcomes
- Creating a compliant culture is central to the behaviour and values of all managers and is delivered by their staff
Stronger powers and more resources than the OFT
The FCA indicates meeting customers’ fair and reasonable expectations should be the responsibility of firms, not that of the regulator. Firms have to comply with FCA Principles for Businesses, and Treating Customers Fairly. The FCA intends to change behaviour by making it clear that there are real and meaningful consequences for those firms or individuals who don’t play by the rules.
So the question is, how confident are you in your whole credit management supply chain being fully compliant? How could you test it and evidence your systematic compliance process?
Would you like a FREE 'compliance spot check' to highlight common vulnerabilities?This discrete service is designed for prime, sub-prime and captive finance providers. There is absolutely no obligation, simply - call 01775 713322 or submit the form above to arrange. |
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