Short term consumer finance
The Consumer Finance Association (CFA) is a trade association which represents the interests of businesses offering short term, unsecured personal loans. Ours is a modern and innovative form of lending that is not designed to build up long term debt. Just borrow what is required and pay it back quickly. CFA members offer quick access to small sums. Delivery is both traditional through high street offices and innovative via the internet. CFA members are licensed and regulated by the Office of Fair Trading.
The aims of the CFA are to promote responsible lending and borrowing, to keep members up to date on changing legislation and to build relationships with consumer groups, government departments and other financial services organisations. The CFA encourages the highest standards among its members and their staff in terms of transparency, customer service and responsible lending.
Consumer Finance Association members:
Offer short term loans geared to the borrowing needs of customers
Assess that customers can afford loans, and are able to repay them
Provide clear, transparent customer contracts and communications
Treat customers in a helpful, courteous manner and deliver high standards of service
Maintain high levels of customer satisfaction
Consumer Finance Association members do not:
Target people with debt problems
Lend to people who they believe cannot afford to repay
Deal with customers if there is any question about their identity or authenticity
Payday loans: the facts
Payday loans are designed for those who have bank accounts, a job and disposable income. They are not loans for people on benefits or very low incomes. To get the facts about payday loans, you can download our new information leaflet by clicking here. |
