Regulators admit disappointing TCF implementation


Speaking at the UK Council of Mortgage Lenders annual lunch last month, Vernon Everitt, director of retail themes at the Financial Services Authority (FSA) announced that "an encouraging number of [financial services] firms met the March 2007 deadline to be at least implementing TCF in a substantial part of their business."

"However, it is important to note that to meet this deadline, firms needed to show they had allocated appropriate resources and responsibilities and created capability to meet

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