December 2014

New rules target credit brokers treating customers “in a blatantly unfair way”

New rules designed to protect borrowers when they are looking for a short-term loan are to be introduced from 2 January 2015.

The announcement from the Financial Services Authority (FCA) has been welcomed by Debt Advice Foundation, which has campaigned for stricter controls for online credit brokers and “lead generators”.

Brokers are being targeted by the FCA because, it says, they treat customers “in a blatantly unfair way”.