Members of TMA will receive regular updates regarding Treating Customers Fairly (TCF) regulatory principles which will be posted on the TMA website and in its monthly Connect magazine.
The TMA website will provide a link which will give intermediaries information on TCF. The link offers members a ‘snapshot summary’ of what TCF behaviour means in practice and it aims to help intermediaries implement TCF principles.
Phil Whitehouse, head of TMA, commented: “TCF remains a very important topic for directly authorised brokers and this link will help provide members with a constant flow of up-to-date and relevant information to help with day-to-day business practices. As a mortgage club operating amidst challenging times it is vital that we continue adding value and support to DA propositions whether they be product or compliance related.”
Frank Eve, chairman of the TCF Lender Forum added: ‘We are pleased that TMA has accepted our invitation to join the TCF Lender Forum. The FSA is clear that the future of regulation will require intermediaries to demonstrate that they have embedded the Principle of Treating Customers Fairly in their business practices.”
The TCF Lender Forum was set up in 2005, has 16 lender members and is supported by the Council of Mortgage Lenders (CML).
