FISA Code of Practice
The FISA Code of Practice was introduced in 1988, since when it has been amended a number of times to deal with market practices which might detriment consumers. The Code can be viewed here.
The Code is being submitted to the Office of Fair Trading's Approved Codes scheme. Members of organisations whose Codes gain approved status are allowed to display the "Approved Codes" logo, including in their advertising.
One of the key requirements of the FISA Code is that members should provide a copy of the FISA Borrowers' Guide to anyone taking out a secured loan.
FISA's Borrowers' Guide
The OFT suggests in its Guidelines for Non-Status Lending that lenders should provide a booklet to prospective borrowers to explain the main terms and conditions and implications of the loan agreement. The FISA Borrowers Guide which is issued by all FISA lenders does this.
The Borrowers Guide explains their data protection rights to borrowers and enables FISA lenders and brokers to meet their obligations under the Data Protection Act.