The Standards of Lending Practice (previously the Lending Code) are voluntary and set the benchmark for good lending practice in the United Kingdom, outlining the way registered firms are expected to deal with their customers throughout the entire product life cycle.
The Standards of Lending Practice for personal customers covers loans, credit cardis, charge cards and overdrafts.
The Standards of Lending Practice for business customers covers loans, credit cards, charge cards and overdrafts, with a separate set of Standards covering asset finance.
As and when they do, the Standards of Lending Practice will evolve to help registered firms develop their approach to them.
This United Kingdom bank or insurance-related article is a stub.