The Building Societies Association (BSA) has become the first financial trade body to support fair trading in finance and display the FairLife Mark

The FairLife Mark recognises the BSA’s commitment to fair standards and how they have gone the extra mile to support members during both the pandemic and the cost-of-living crisis.

The recent introduction of a new regulatory regime (Consumer Duty) has led to an increasing number of product providers keen to demonstrate their commitment to customers in a simple and effective manner.

The charity formally recognises the support of the BSA and how they help members to offer products that the public can trust.

BSA chief executive Robin Fieth commented: “Building societies are member-owned and treating customers fairly is a huge part of our identity. We are delighted to support the FairLife Mark, demonstrating to customers our purpose-led values and the many benefits of choosing products from a mutual provider. “

He added: “We look forward to more of those within our association supporting the FairLife Mark, boosting loyalty and confidence amongst their members whilst also helping them to attract new customers.  Displaying a fair trading mark that raises standards for the public and helps future generations of children to learn financial education is a great way for our member firms to demonstrate their customer first ethos.”