Submission on the IFSRA Consumer Protection Code

One of the core priorities of FLAC's current strategic plan is to strengthen consumer protection in relation to the extension of credit and other financial services, together with advocating comprehensive law reform in the related and growing area of consumer over- indebtedness. To this end, FLAC works closely with the Money Advice and Budgeting Service (MABS) to ensure the delivery of free services to consumers, especially those on low incomes and in financial difficulties. We have also developed constructive relationships with IFSRA and representatives of the credit industry to further these objectives.

FLAC welcomes the publication of this draft code following the consultation process undertaken by the Authority to which it made a previous submission and welcomes the opportunity to make further observations prior to the adoption of the Code.

The issues commented upon in this submission are taken in the alphabetical order under which they fall in the consultation paper. This submission takes the approach of selecting areas of particular concern to this organisation and in which it has relevant experience.