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CML says FSA was unfair in arrears review presentation

The Council of Mortgage Lenders has attacked the FSA’s presentation of its reviews into the mortgage market as “ambiguous, unfair and confusing”.

It initially welcomed the review but in an unusually outspoken piece in its newsletter, the CML hits out at how the FSA presented its findings.

It says the FSA’s press release on the reviews invited people to assume lenders are not treating customers fairly. It says confusion was added by publishing thematic findings alongside figures from mortgage lending and administration returns.

The CML says: “The key message given to media and the industry was that lenders are failing to treat customers fairly but in tarnishing the whole industry with the same dirty brush is the regulator treating lenders fairly?”

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