Standards of Lending Practice
The Lending Standards Board introduced Standards of Lending Practice for personal customers on the 1 October 2016 and for business customers on the 1 July 2017.
This is a self-regulatory code which sets minimum standards of good practice when dealing with the following customers in the UK:
- Businesses/organisations with an annual turnover of less than £6.5 million* and which do not have a complex ownership structure (e.g. businesses with overseas, multiple, or layered ownership structures).
It provides standards of good lending practice to follow when dealing with:
- Credit cards
- Charge cards
- Current account overdrafts
- Debt collection activities related to these products
The documents below contain further information on our lending commitments and what we ask of you:
Personal customer information:
Business customer information:
Further information on the Standards of Lending Practice is available on the Lending Standards Board website.
Lending Standards Compliance Officer
We are required by the Lending Standards Board to appoint a Compliance Officer responsible for the Standards of Lending Practice. Any enquiries should be addressed to Lending Standards Compliance Officer, The Co-operative Bank p.l.c., P.O. Box 101, 1 Balloon Street, Manchester, M60 4EP.
*exclusive of VAT and other turnover related taxes.