[INSIGHTS]: FLA Lending Code

External Links:
https://www.fla.org.uk/consumer-information/lending-code/
https://www.fla.org.uk/consumer-information/lending-code/
Summary
The FLA Lending Code 2021 is a guide and policy for FLA members who provide consumer credit loans or second charge mortgages. The code sets out standards of good practice in consumer lending and summarizes how customers can expect to be treated by FLA members. The code covers a range of topics, including advertising, sales, creditworthiness assessment, arrears and default, and debt collection. The code requires FLA members to treat customers fairly, transparently, and responsibly, and to provide clear and accurate information about their products and services. The code also requires FLA members to comply with relevant laws and regulations, and to maintain high standards of professionalism and ethical conduct. The code provides a framework for resolving disputes between FLA members and their customers, and for reporting and addressing breaches of th...