The FSA may challenge firms using terms which it views as unfair under the Unfair Terms in Consumer Contracts Regulations 1999 (the Regulations). This can lead to firms providing an undertaking to the FSA not to use terms which may be considered unfair. The FSA has a duty under the Regulations to tell the Office of Fair Trading about the undertakings it receives. The OFT publishes these undertakings on its Consumer Regulation website. The FSA also publishes the undertakings on its website. The FSA has now published on its website an undertaking given by Barclays Bank PLC (Barclays). In this undertaking Barclays, trading under the name of Woolwich, undertakes not use the Woolwich’s terms which the FSA may consider to be unfair.
View Barclays Bank PLC, (PDF 41.9KB), 13 August 2007