Lending Standards Board

The Lending Standards Board is the successor organisation to the Banking Code Standards Board and began its work on 2 November 2009.  They monitor and enforce the Standards of Lending Practice, making sure that their registered firms and their agents provide a fair deal to personal and business customers.  

The Lending Code was replaced by the Standards of Lending Practice in July 2016.

The Standards cover the credit and debt elements of the old banking code, other parts will be covered by Financial Conduct Authority regulation of deposit taking. The Standards cover good practice in relation to unsecured loans, lending aspects of credit cards and charge cards and current account overdrafts.

If you have a problem with your financial service provider, you should complain first to the bank, building society or card issuer involved. They will give you a copy of their complaints procedure. This sets out the timescale they are required to follow in dealing with your complaint.