TCF definitions vary across company departments

A recent series of discussion forums of banks, insurers, mortgage lenders and IFAs in London, Manchester and Edinburgh – and staged by PR and research house Clearconcepts – discovered firms are still uncertain about how best to approach TCF and are most unclear as to where responsibility lies should a consumer make a complaint. Jonathan Williams, spokesman for Clearconcepts, says while there is a high level of due diligence within companies concerning TCF requirements, it is the interpretation of terms such as fairness between different business units and understanding the specific respo...