The future of the DEMSA’s OFT-approved code of conduct has been assured after the government confirmed it is to sit within the Trading Standards Institute.
In today’s government response to the BIS Committee’s debt management report, DEMSA – the Debt Managers’ Standards Association – has been informed that its code of conduct will continue.
Melanie Taylor, director of external relations at the DEMSA, said the future of this code will sit with the Trading Standards Institute, which will operate a portal for the public to access details of businesses operating under a code-approved scheme.
She explained: “We welcome any measure that increases the public’s awareness of the businesses that are code-approved, which exists to allows consumers to choose organisations offering higher levels of customer service.
“DEMSA is particularly encouraged by the government’s recognition that considerable consumer detriment can occur in allowing firms to continue taking on new business, whilst appealing the revocation of their consumer credit licence.
“DEMSA has long campaigned for a faster appeals process and the prevention of firms taking on new business when placed under a Minded to Revoke (MTR) notice by the OFT. We hope that the government will give serious consideration to these points in its announcement this summer.”