Angela Knight, chief executive officer of the British Bankers’ Association, states that banks remain willing to accept the new voluntary code, which is to be introduced by the end of March.
The code is set to cover charges, the quality of advice given on IVAs and contract transparency.
It aims to provide consumers with a fair overview of the IVAs, which have soared in popularity in the last year, according to Bloomberg.
Ms Knight said that “all the banks . . . [are] on board and are very keen to adopt” the new code.
The news comes as moneysupermarket.com reports that it has seen a 70 per cent increase in volumes using its service since Christmas.