BIS Debt Management report welcomed by CFA

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BIS Debt Management report welcomed by CFA

This is a duplicate of the Blog Entry made on 7th March 2012 20:44.

The Consumer Finance Association (CFA), the trade body that represents some of the largest payday lenders in the UK, has welcomed the latest...

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[5corpio]

Re: BIS Debt Management report welcomed by CFA

A third party independent impact assessment group has been formed to consider the impact of implementing recommendations on debt management made by a Parliamentary committee. The group was formed by members of the Debt Managers’ Standards Association (DEMSA), to assess how the sector can best address the recommendations of the Business Innovation and Skills (BIS) committee report into debt management in a way which is both effective for consumers and sustainable for firms. It follows a summit held yesterday involving all DEMSA members to assess BIS committee recommendations, which include greater transparency over the cost and outcomes of debt advice, the phasing out of up front fees and effective auditing and protection for client accounts....Read more here--: DEMSA launches impact assessment on BIS report