FLA is the leading trade association for the asset, consumer and motor finance sectors in the UK. In 2007 FLA members did £94.5 billion of new business. £28.8 billion was provided to the business sector and UK public services, representing almost 28% of all fixed capital investment in the UK last year (excluding real property and own-account software). The remaining £65.7 billion was provided to the consumer sector representing almost 30% of all unsecured lending in the UK in 2007. FLA members provided £19.0 billion of motor finance in 2007 and financed more than 50% of all new car registrations in the UK.
Our members comprise banks, subsidiaries of banks and building societies, the finance arms of leading retailers and manufacturing companies, and a range of independent firms. The facilities they provide include finance leasing, operating leasing, hire purchase, conditional sale, personal contract purchase plans, personal lease plans, secured and unsecured personal loans, credit cards and store card facilities.
FLA’s mission is to promote an innovative, responsible and proportionately regulated market place, and to deliver value to members by helping them reap its benefits.
In aiming to fulfil our mission, we campaign for best practice in lending and leasing. Our Lending Code 2006 sets out standards of good practice for the consumer finance industry and is intended to reassure any consumer who applies for finance from full members that they are doing business with reputable organisations.
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