LSB updates Lending Code: LSB has issued an update of the Lending Code. The December 2013
version contains new text on complaints analysis and compliance with the Debt Management Plan
Protocol. (Source: LSB Updates Lending Code)
LSB publishes reviews: LSB has published themed reviews on:
  • unarranged overdraft facilities and cancellation or reduction of arranged overdraft facilities. The review found firms were largely compliant with the Lending Code guidance on information lenders give to customers, whether they monitor customers who might use an unarranged overdraft and how they decide to reduce or cancel an arranged overdraft. It also concluded that the Code's provisions did not need to change; and
  • credit reference agency reporting and disclosures. This review looked at information customers get before, during and after the sales process in relation to recording of information at credit reference agencies. It found good standards of compliance but identified a few firms that were in breach of some requirements, which the firms now need to address.

(Source: LSB Review of Overdrafts and LSB Review of Credit Reference Agency Reporting)