‘One complaint is one too many’ – CFA responds to Citizens Advice survey on payday lenders
Russell Hamblin-Boone, Chief Executive of the Consumer Finance Association, which represents the major short-term lenders operating in the UK, said:
“One complaint is one too many. While we only represent a handful of the 126 lenders that were surveyed, CFA members are the only lenders who have put in place independent monitoring against our Code of Practice, developed to offer further protections for customers, and which exceeds the standards set in the Customer Charter. Our code is used as a benchmark for the Ombudsman when it assessed the 542 complaints it received about payday lenders last year.
“We encourage customers of CFA members to make direct contact with their lender if they feel that they have been treated unfairly or to arrange a payment plan to help them through a difficult financial period. Working closely with Citizens Advice and their bureau network, we have recently implemented a hotline service for CAB advisers in two pilot regions so that they can speak directly with hardship teams within our member’s businesses to resolve complex debt problems on behalf of their clients swiftly.”
For more information, or for interviews with the CFA, please contact Rhiannon Thompson at firstname.lastname@example.org or on 07834 266 639
-  Source of Complaints figures from FOS: