Mortgage Expo: FSA to target 'particularly poor' TCF firms

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Mortage firms which have failed to meet the FSA's deadline on Treating Customers Fairly (TCF) should expect a visit from the regulator by the end of June.

Speaking at the Mortgage Expo in Manchester, Mandy Spink, head of mortgages and credit unions at the FSA, says the regulator will focus on companies it deemed “particularly poor” in its recent TCF implementation results. Small firms in general came out poorly following the end-of-March results, with only 41% meeting the FSA’s deadline. However, small mortgage firms performed particularly badly, with only 22% of firms making the cut. Spink says: “We were a bit concerned about the slow progress of the small retail firms and particularly the small mortgage firms. Only 22% met the deadline,...

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