OFT issues irresponsible lending guidance

[Legal Beagles]

The OFT has published guidance on the irresponsible lending element of the test of fitness to hold a credit licence. The guidance provides clarity for businesses and consumers about behaviour the OFT considers may constitute irresponsible lending practices under the Consumer Credit Act.

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[natweststaffmember]

Re: OFT issues irresponsible lending guidance

http://www.oft.gov.uk/shared_oft/bus...al/oft1107.pdf

This is the link to it.
Will have a peruse over Easter as to the interesting titbits

[davidl]

Re: OFT issues irresponsible lending guidance

Irresponsible lending they should have a compleate overhaul of the sub-prime lending market seriously resticting the lending of payday loans and high interest loans ect.

[Dougal16T]

Re: OFT issues irresponsible lending guidance

Good morning all,

I could not agree more - one company in particular stands 'head and shoulders' above the rest, and that is 'Swift Advances plc', a member of the 'Swift Group.'

There are so many who have suffered at the hands of this operation.

How about a 'super complaint' to the OFT about them?

Best wishes to everyone else,

Dougal

[Amethyst]

Re: OFT issues irresponsible lending guidance

http://www.oft.gov.uk/shared_oft/rep...t/oft1150s.pdf