This website uses cookies to store information on your computer. Some of these cookies are used for visitor analysis, others are essential to making our site function properly and improve the user experience. By using this site, you consent to the placement of these cookies. Click Accept to consent and dismiss this message or Deny to leave this website. Read our Privacy Statement for more.
Home | Print Page | Contact Us | Report Abuse | Sign In
News & blogs: Press releases

Senior executive calls for common Code and Standards across al consumer collections activities

08 March 2018  

A senior executive within the debt collection industry has again called for the adoption of the Credit Services Association (CSA) Code of Practice as the de facto best practice ‘standard’ across all sectors and organisations collecting consumer debts.

Whereas agencies collecting financial services debts are regulated by the Financial Conduct Authority (FCA) and adhere to the CSA Code, there is neither a single Code, nor a single regulator, for debts that fall outside of those that used to be governed by a consumer credit license.

Peter Wallwork, Chief Executive of the CSA, says this adds to the real possibility of consumer detriment and confusion: “It means customers dealing with utility firms, Central Government, Local Authorities and even some telecoms companies and mail order firms are not guaranteed the same standards of treatment or safeguards as those managed by FCA-authorised CSA members.”

Speaking at the Utility Week Consumer Debt Collection Conference in February, Peter said that while some Utility regulators, and notably Ofwat, have been quick to recognise the work of the CSA in treating customers fairly, others have been slower to engage: “The CSA Code was the basis of the original OFT Guidance on debt collection, and the more recent FCA Consumer Credit handbook (CONC),” he continues.

“There is good logic, therefore, to have one Standard that can be consistently applied across all areas of consumer collections. The CSA Code of Practice could become the common denominator across all collections activities.”

The Credit Services Association, the voice of the UK debt collection and debt purchase sectors, relaunched its Code of Practice in July 2017. Peter Wallwork will speak more about the Code and the work of the CSA and its members at the Money Advice Scotland conference in June.

Back to news

 


Credit Services Association,
2 Esh Plaza, Sir Bobby Robson Way,
Great Park, Newcastle upon Tyne,
NE13 9BA Map

fenca iic

ppc

T: 0191 217 0775

F: 0191 236 2709

E: info@csa-uk.com

Credit Services Association Limited 
Registered in England and Wales No. 00089614

CSA (Services) Ltd
Registered in England and Wales No. 05055685

Registered address:
2 Esh Plaza, Sir Bobby Robson Way, Great Park, Newcastle upon Tyne, NE13 9BA