Will FISA members put their money where their mouths are

As the year comes to a close everyone is wondering what 2009 will bring.

There has been much talk this year over the future of the various associations in the secured loan market.

Which is why a show of unity this week by lender members of the Finance Industry Standards Association came as a bit of a bolt out of the blue for some.

The standards body has had its fair share of flak this year and many people are pushing for it to either morph itself into a lenders trade association or cease to exist altogether.

However by its lender members all agreeing to increase their fess next year to ensure its survival it shows there is still support for the organisation.

The message that is coming from its lender members is a very different one that is coming from the rest of the industry.

No doubt 2009 will bring with it a number of surprises and it seems that FISA may be one of them.

While it is not clear whether all of its members will renew their membership, FISA does appear to have the backing of its members, or its lender members at least.

Not a lot of people are willing to put their money where their mouth is in the current climate, so it will be interesting to see what FISA’s lender members decide when it comes to renewing their membership.