Press Release Summary: Various websites that offer comparison services have been called upon to adopt a voluntary code of practice to bring more transparency to their functions.
Press Release Body: London (loans-bazaar) October 23, 2007: An independent research and policy organisation has called upon the price comparison websites to adopt a voluntary code of practice.
A research conducted by YouGov for the Resolution Foundation revealed that 45 percent of 2,010 British adults had used a price comparison site to help them take a financial decision in the last year. The price comparison services provide comparative data for many products. You can compare personal loans, secured loans, mortgages, etc., and choose a competitive product.
However, these comparison services have commercial interests and it is suspected that they are guided by such motives. The Resolution Foundation wants that these websites should show more accuracy, transparency and impartiality in their operations. That is why it wants them to adopt a code of practice.
Welcoming the gesture, one of the leading price comparison services said: "We make it very clear to our customers how we make money and have applied the same ethical principles of impartiality to all of our products. uSwitch is one of very few sites to have had EnergyWatch accreditation since 2001."
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