Spotted by SL at the BBC:
Trading Standards is taking consultancy payments from a firm which is also the subject of customer complaints.
West Yorkshire Trading Standards (WYTS) received payments from online loans broker SGE Loans in exchange for regulatory advice. But some customers claim that SGE Loans has debited their bank accounts without consent - a claim SGE Loans denies.
WYTS says such partnerships are necessary because of budget cuts but its integrity remains unaffected...
Well worth a read.
Thursday, 6 October 2011
Regulatory Capture
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1 comments:
"WYTS says it faces budget cuts of 22% and this has has made it a necessity to charge companies such as SGE Loans for its regulatory advice."
Hmm - it is worth a read. Doesn't sound at all healthy to me.
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