An independent survey into Treating Customers Fairly (TCF) has found that an ‘alarmingly' high proportion of senior management are not assessing decisions against TCF policy, with a ‘great deal' of improvement needed in handling of complaints.
The research, which was carried out during March and April, questioned respondents working in banking, insurance, pensions and investment. From a company perspective, only 26pc of respondents said that all senior executives follow the FSA’s flagship policy. Over half of respondents felt that firms either used complaints to improve service or at least took complaints seriously. However, 27pc said that complaints were handled, at best, in line with regulatory requirements and suggested a great deal of improvement is needed. The survey was twinned with the launch of TCF Index, a ne...
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