LSB is consulting on its review of the Standards of Lending Practice for business customers.
The consultation contains questions relating to:
- The impact of economic and regulatory developments
- Protections for customers
- Updates to support a full range of lenders, including smaller firms, newer market entrants, and digital-first lenders
- Appropriateness of thresholds
- The protections provided by the business Standards
- Opportunities to develop new best practice and guidance
- Product and service design
- Accessibility and inclusivity
- The scope of the business Standards
Consultation closes 10 August 2023.