“Consumers should always receive good service for a fair price. Yet too often we see firms willing to risk a tap on the shoulder from the FCA, rather than playing fair from the get-go.
“We welcome these proposals, which should make firms think twice before going against the best interests of their customers.
“The FCA has made it clear that it is ready to take action against firms where needed. The intention of the duty is that this won't be necessary as often as we’ve seen in the past, but the real test will come in whether it is willing to do it when it matters.”