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Regulation of financial products and services

There are a few different organisations that oversee the provision of financial services, to make sure that lenders or service providers are behaving fairly and lawfully. They provide guidelines that service providers follow, and some will deal with complaints from consumers or the government.

  • The Financial Conduct Authority (FCA). The FCA is an independent body who regulate financial services in the UK, including the consumer credit industry.
  • The Financial Ombudsman Service oversee and help resolve complaints about financial services if the complaint cannot be resolved by the provider's complaints process.
  • There are various codes such as The Lending Code which set out standards for financial services providers. These are often opt-in though, but are in addition to companies following FCA guidelines.

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