CCR Magazine

CSA Top Banner
You are here  :Home arrow News arrow Lending Code to build on firm foundations
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Lending Code to build on firm foundations PDF Print E-mail
Tuesday, 08 September 2015

In launching the Lending Standards Board’s (LSB) latest Annual Report, Chairman Lord Hunt of Wirral reflected on the impact of changes in the regulatory landscape and the consumer credit market on the work of the LSB.

Lord Hunt commented:

“In recent years there has been a massive increase in the use of digital channels and the emergence of a range of new lenders with both traditional and new business models. This pace of change is unlikely to slow.

“On the regulatory front, the FCA has introduced a new rule book for consumer credit and brought a more proactive and forward looking approach to the regulation of the market.

“These and other changes present challenges but also opportunities for the LSB to work closely with the industry to demonstrate how self-regulation can set new standards for supporting customers in a changing world.

Referring to the independent review of the Lending Code undertaken by Professor Russel Griggs OBE, Lord Hunt said:

“What is clear from the review is that if it is to add value going forward, substantial changes will be required to the Code, both to address overlap with the new FCA statutory regime and to ensure it reflects how subscribers wish to serve their customers in the future.

Work has started on this and whilst it will take some months to complete, I believe it presents us with a real opportunity to build upon the existing Code’s firm foundations for the benefit of both Subscribers and their customers.

The Annual Report provides full details and findings of the LSB’s comprehensive monitoring and research work undertaken in the last year. It also covers the introduction of the Associate Subscriber category, bringing debt collection and debt purchase firms within the scope of the Code, helping to ensure customers who may be experiencing financial difficulty are treated sympathetically and positively.

The Report and further information regarding the independent review of the Code can be found at: www.lendingstandardsboard.org.uk

(Source - LSB Press Release)  

 
Enghouse Side Banner

CSA side

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

CSA

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197