OFT focusing on irresponsible lending not prescriptive rules

  • Story by: Emma Ann Hughes
  • Magazine: MortgageAdviser
  • Published Wednesday , July 02, 2008

The Office of Fair Trading (OFT) wants to talk to finance brokers about irresponsible lending rather than impose prescriptive rules, according to Philip Collins.

Advertising

The chairman of the Office of Fair Trading told intermediaries gathered at the Association of Finance Brokers second annual dinner in London last night (1 July) that he was keen to engage with advisers on the subject of irresponsible lending.

He told brokers at the dinner, irresponsible lending was a broad subject and while the OFT had issued guidance on the matter in the past he felt more clarity for both businesses and consumers was required.

FTAdviser BLOGS RSS

Latest Post  

Forecasts - few and far between

For the last few years, on a Wednesday, my email inbox has been packed with Bank of Englan... read more

SIGN UP TO NEWS ALERTS