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The voluntary lending code is “too open” to interpretation to be followed closely, according to senior executives from several debt collection agencies (DCAs). At Sopra Group’s Debt Collection Summit 2013, compliance with the lending code was identified as one of the main challenges facing DCAs. The discussion at the roundtable event highlighted that the voluntary code, which sets standards for financial institutions when lending to personal and small business customers, often appears “vague and subjective”.....Read more here
New lending code provides new rights and protections for borrowers.....AAD Blog Feb 2012: New lending code provides new rights and protections for borrowers - allaboutFORUMS
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