Press Release

FLA RESPONDS TO CITIZENS ADVICE CALL FOR INDUSTRY TO DO MORE TO STOP ‘SOARING DEBT’

7 November 2007

Responding to the calls from Citizens Advice, FLA Director General Stephen Sklaroff said:

“Member companies of the FLA are bound by our Lending Code to lend responsibly. The industry works very hard - including via the sharing of credit data - to try to prevent over-indebtedness. Our Code also ensures that people who get into trouble are treated fairly. But responsible lending must be matched by responsible borrowing. The industry therefore strongly supports efforts to improve consumer financial education.”