The National Association of Commercial Finance Brokers (NACFB) has welcomed the Office of Fair Trading’s (OFT) consultative paper aimed at protecting vulnerable customers from unnecessary upfront fees.

The trade body is canvassing opinion from its members in order to co-ordinate a response to the regulator.

Adam Tyler , CEO of the NACFB, said: “We are delighted that the issue of upfront fees is being addressed by the OFT and this goes hand in hand with our efforts to stamp out advanced fee fraud within the industry. Unfortunately