The OFT has today published guidance which sets out the standards it expects from credit brokers and intermediaries.
It sets out the OFT’s view on unfair practices relating to advertising and sales, refunds and complaints handling.
Unfair practices include (in the opinion of the OFT):
- charging fees upfront
- unauthorised debiting of customer accounts
- inappropriate requests that customers use premium rate telephone numbers
- failure or delay in refunding fees.