It is well documented that being poor costs more. When people who are less well off or have fluctuating incomes need credit for sudden expenses, many lenders see an opportunity to make a lot of money.… Continue reading
Archives for February 2021
Month: February 2021
Responsible Finance welcomes the FCA’s timely vulnerability guidance
“The FCA’s bold new guidance on vulnerability and its particular emphasis on inclusive design are welcome developments that will improve outcomes for all financial services customers, not just those who are more susceptible to harm. In… Continue reading
MPs urge Government to boost recovery by backing community development finance
23 February 2021: MPs including Sir Iain Duncan Smith, the former leader of the Conservative party, have backed calls to the Chancellor to inject £25m into the community development finance sector to boost the UK’s recovery… Continue reading
Responsible Finance reacts to the FCA’s Financial Lives 2020 Survey
The FCA’s new Financial Lives survey exposes the fragile state of our finances, both prior to the pandemic and now. In February last year, 20% of UK adults had low financial resilience – meaning they were… Continue reading
Responsible Finance welcomes the Woolard Review programme for reform
We welcome publication of the Woolard Review and its programme for reform. Its emphasis on boosting alternatives to high-cost credit, and its holistic approach to issues including the treatment of the very poorest when they need… Continue reading
Financial Times: CDFIs are alternative to potentially harmful buy-now pay-later credit
Today’s Financial Times covers the Woolard review of the unsecured credit market. Our analysis of the review is here. The newspaper highlights the review’s recommendation to boost community development finance institutions (CDFIs). You can read the… Continue reading