Enhanced Code of Practice brought into force to give consumers greater rights and protection
The Consumer Finance Association (CFA) has today brought into force an enhanced Code of Practice that lays down specific consumer protection measures, which set the standard for the entire payday lending industry.
The CFA’s Code encompasses and exceeds the Good Practice Customer Charter, which is the set of minimum standards agreed with the Government and three other trade associations in July, and which also comes into force today.
All of the CFA’s members, including The Money Shop, Cheque Centre, Payday UK, Quick Quid, Cash Converters, Express Finance and Cash Generator, have signed up to the new Code.
The CFA’s Code and industry’s Good Practice Customer Charter are available here.