What happened?
TCC Group recently featured in Money Marketing with an article by Senior Regulatory Consultant Juana Diaz-Landinez, reflecting on the FCA’s Consumer Duty two years after its implementation. The article highlights that while many firms have made progress embedding Consumer Duty, regulatory expectations remain high. The FCA continues to focus on customer outcomes, particularly around vulnerability, consumer understanding and customer support, with firms expected to demonstrate meaningful action rather than simple compliance.
Why does it matter?
As FCA scrutiny evolves, firms are being challenged to prove that their products, services and support arrangements genuinely deliver good customer outcomes. Recent reviews into vulnerable customers, bereavement journeys and power of attorney processes show regulators are looking closely at how firms support customers in practice. Firms that rely on inflexible processes, weak management information or poor vulnerability identification risk falling short of Consumer Duty expectations and exposing customers to harm.
Supporting sources
Frequently asked questions
What are the FCA's current Consumer Duty priorities?
The FCA is placing greater emphasis on consumer understanding and consumer support outcomes, alongside its ongoing focus on products, services, price and value.
Why is vulnerability still a key focus for firms?
Many firms continue to struggle to identify vulnerable customers and demonstrate that support services effectively meet their needs. The FCA expects firms to remove unnecessary barriers and monitor outcomes more closely.
What should firms do to strengthen Consumer Duty compliance?
Firms should ensure management information is outcome-focused, define what good customer outcomes look like, improve vulnerability identification processes and align customer support arrangements with the needs of their target market.
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- BankingTCC helps retail banks, challenger banks, building societies and specialist banking providers strengthen governance, manage financial crime risk and demonstrate good customer outcomes. Our specialists support Consumer Duty, remediation, regulatory transformation, FCA intervention and compliance assurance programmes through advisory, managed services, specialist resourcing and technology-enabled compliance. With more than 25 years of experience supporting FCA-regulated firms, we help banks respond confidently to regulatory scrutiny while strengthening operational resilience and customer trust.
- General Insurance & ProtectionTCC helps insurers, brokers, MGAs and protection providers evidence fair value, strengthen customer outcomes and identify emerging customer harm. We assess product governance, claims performance, distribution oversight and vulnerability risks, helping firms create regulator-ready evidence, improve operational performance and demonstrate that products and services deliver value throughout the customer lifecycle.
- Lending & Consumer CreditTCC helps consumer credit firms evidence good outcomes, strengthen affordability and vulnerability frameworks, and manage complaints, remediation and regulatory risk. We support lenders with practical, regulator-ready compliance programmes that improve governance, customer treatment and operational resilience.
- Motor FinanceTCC helps motor finance lenders, brokers and providers assess redress exposure, prepare for large-scale customer reviews and strengthen complaints, affordability and Consumer Duty frameworks. We combine regulatory advisory, managed operations, specialist resource and technology-enabled assurance to deliver consistent customer outcomes, robust governance and regulator-ready evidence under heightened FCA scrutiny.
Reviewed by TCC Group Editorial Team