Following an independent review the British Bankers’ Association, the Building Societies Association and APACS have published revised codes for personal banking and business banking. The revised codes come into effect from March 2008. The changes include:
- Strengthened credit assessment processes - intended to allow subscribers to make more informed decisions about customers ability to pay.
- Additional protections for customers using internet banking.
- More help and information for customers heading towards financial difficulties.
- More transparency of information for credit cards and credit card cheques.
View New Banking Code ensures fair deal to customers, 22 November 2007