Latest News - Letter to the Department for Business Innovation and Skills (BIS)

12/5/10 In response to our letter to the Office of Fair Trading (OFT) regarding its publication of Irresponsible lending – OFT guidance for creditors, the OFT has recently advised us to submit our recommendations to the Department of Business, Innovation and Skills (BIS). BIS sets the laws which inform the policy, guidance and direction of the OFT.

With this in mind, today we sent a letter to BIS designed to offer extra recommendations not already covered in Irresponsible lending– OFT guidance for creditors, which will go much further toward protecting consumers – especially vulnerable people. Areas covered are highlighted in green font on our home page under the headings home repossession, penalty charges, reckless lending, right of set-off and consultation with social welfare and consumer protection organisations.

A full copy of this letter can be seen via this link.