Our Standards

Codes of Practice

In November 2012, the CFA launched an enhanced Code of Practice to give consumers greater rights and protection to set the standard for the entire short-term lending industry.

This Code covers a number of obligations that CFA members have to adopt, including: rules on advertising and marketing; assessments of affordability; debt collection procedures; data protection and complaints procedure.

The CFA's Code encompasses and exceeds the Good Practice Customer Charter, which is the set of minimum standards agreed with the Government and three other trade associations which also came into force during November 2012.

CFA members are governed by the Consumer Credit Act 1974 (as amended by the Consumer Credit Act 2006); Consumer Credit Regulatory Guidance issued by the Office of Fair Trading; the Data Protection Act 1998; Privacy and Electronic Communications (EC Directive) Regulations 2003; Consumer Protection from Unfair Trading Regulations 2008 and related Office of Fair Trading Guidance Financial Services (Distance Marketing) Regulations 2004; the Enterprise Act 2002, and Money Laundering Regulations 2007.


I am pleased that the CFA has put in place independent monitoring and enforcement of the codes.

Jo Swinson MP, Minister for Employment Relations and Consumer Affairs

The Money Charity supports moves by the payday lending sector where they focus on improving standards across the industry, and clarity and fairness for customers.

Chris Pond, Chair, The Money Charity