FCA complaints data can paint a bleak picture but, says Chris Davies, relatively few businesses are not treating customers fairly and there are straightforward ways to ensure your firm is not one of them
The latest complaints data from the Financial Conduct Authority (FCA) can read like the opening credits of a niche disaster movie - LIBOR rate-rigging, long-term care, payment protection insurance miss-selling, product and fund churning … are you already switching off yet? This can lead to an entire industry being tarred with a brush that has seemingly smeared graffiti all over the Treating Customer Fairly (TCF) principles. So what does the new data tell us? The number of complaints made to financial services firms increased by 13% in the second half of 2017. A total of 3.76 million w...
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