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‘Managers must lead way in treating customers fairly’

Senior managers have been told to face up to their responsibilities when it comes to treating customers fairly.

The FSA thinks that progress has been made in implementing the TCF principles but says real success depends on senior staff leading the way.

Following the publication of its TCF report last year, the FSA wrote to the chief executives of 35 major retail groups asking them to use the publication as a guide to assessing their delivery of TCF.

The FSA says companies have been most successful where they have linked their TCF programmes to wider strategic changes in the organisation.

Director of major retail groups Oliver Page says: “The FSA is encouraged by the early signs we see of TCF progress at firms but there is still a long way to go.

“So far, we have mainly focused on bigger firms but our focus is widening to encompass smaller firms and businesses and will widen further over time.”

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