DGAP-News: QuickQuid Applauds New Consumer Protections Charter for Payday Lenders
(firmenpresse) - QuickQuid
02.08.2012 14:34
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LONDON, 2012-08-02 14:34 CEST (GLOBE NEWSWIRE) --
QuickQuid, the UK's premier online payday lender, welcomes the new Good
Practice Charter recently published by the industry's leading trade
associations, aimed at increasing transparency and consumer protection for
payday and short-term loan customers.
The new Good Practice Charter and Addendum, which updates the industry's
existing Codes of Practice, was implemented based on the outcome of discussions
with the Department for Business, Innovation and Skills, by four UK trade
associations representing over 90 percent of the payday and short-term loan
industry. The four trade associations responsible for the newly amended Codes
of Practice include the Consumer Finance Association (CFA), the Finance and
Leasing Association (FLA), British Cheque Cashers' Association (BCCA), and the
Consumer Credit Trade Association (CCTA).
Providing information on issues such as how loans work, related costs and
transparency about loan repayments, the new Good Practice Charter and Addendum
establishes a customer charter that provides best practices for payday and
short-term lenders to follow. Additional details on the charter can be found on
the relevant trade association websites.
'QuickQuid applauds the industry for taking action and collaborating with
various consumer credit trade associations, consumer groups, and government
departments to develop and enact the new Good Practice Charter,' said Alex
King, QuickQuid's managing director of operations. 'QuickQuid, along with its
industry partners, played an active role in the development of the charter, and
we will continue to partner with key stakeholders to drive initiatives that
support the continuous improvement of consumer protections for short-term and
payday loan customers.'
'QuickQuid was founded on the core value of providing new and existing
customers with the necessary resources to make informed decisions when using
our products. This includes providing customers with a wealth of information on
how our loan products work, costs involved and repayment options. When one has
an immediate, unexpected emergency expense, a QuickQuid payday loan is a
valuable and trusted option for people who need it,' Mr. King said.
All QuickQuid loans are subject to status, affordability, and credit checks
prior to approval. Once approved, borrowers could have the approved amount of
cash deposited into their bank accounts within 10 minutes, making it a
convenient option when emergency expenses leave borrowers short of cash until
payday.
About QuickQuid:
QuickQuid is the premier fully licensed online payday loans provider in the UK.
QuickQuid's fast, convenient services have helped thousands of Britons bridge
the gap between paydays with the ability to apply from the comfort and privacy
of home. These hassle-free online payday loans have made QuickQuid the UK's
trusted online lender. For more information, please visit
http://www.quickquid.co.uk.
The QuickQuid logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13261
CONTACT: media(at)quickquid.co.uk
News Source: NASDAQ OMX
02.08.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: QuickQuid
Großbritannien
Phone:
Fax:
E-mail:
Internet:
WKN:
End of Announcement DGAP News-Service
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Datum: 02.08.2012 - 14:34 Uhr
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News-ID 171161
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