This principle must be adopted and supported by the leadership of financial firms, and embedded throughout a firm’s operations and within its culture. Another important aspect related to FTC is from the Regulator’s perspective. One may ask why the regulator should at all be concerned about customers not being treated fairly by banks.
Thus, the two extremes of the spectrum need to be comprehended adequately, which would involve identification of training needs of own employees as also such agents as banking correspondents who aid the process. In the wake of burgeoning NPAs of banks, a view that has often gained currency is borrower education along with lender education.