A survey of building society chief executives suggests there is a high degree of optimism in the industry regarding future challenges and the requirement for Treating Customers Fairly.
Research conducted by the published by the Building Societies’ Association suggests opportunities through diversification and niche markets are seen as reasons to be cheerful, with smaller societies seeing their size as an advantage rather than disadvantage. In particular the FSA’s Treating Customers Fairly regime is also seen by some as an opportunity to differentiate in the marketplace, rather than as an additional regulatory burden. Regulation is not, however, taken lightly by anybody responding to the survey, with suggestions it is something constantly on the minds of those involv...
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