Are your eardrums ready? Pantomime season is here and if you’re lucky enough to have a ticket, expect the volume to rise as “oh no it isn’t!” and “oh yes it is” echo around the theatre.… Continue reading
Category: Opinion
From access to opportunity: Lessons from America’s CDFIs for a stronger UK
A transatlantic learning journey Four weeks on from our visit to Washington DC for the Opportunity Finance Network (OFN) Conference, the Responsible Finance team, and the CDFI members who joined us, are buzzing with ideas. With… Continue reading
Championing SME Growth: Lloyds Bank CDFI Referrals Pilot
Responsible Finance and Lloyds Bank are piloting an exciting referral initiative designed to enable more businesses to find and access the finance that suits them. Jo Clough, Social Sustainability Director, Lloyds Bank Business and Commercial Banking… Continue reading
Why an evidence-backed policy to double affordable credit provision must be part of the Government’s Financial Inclusion Strategy
“In the past I’d had loans, people knocking on my door saying ‘you owe me money.’ That should be left behind. A responsible lender should look at the person you are now. If you’re working and… Continue reading
The high-cost loan scandal no one is talking about
“The only gig in town came with 60% interest, because we were considered subprime lending. It meant that every payment of £15,000 included £9,000 interest.” When it comes to high-cost credit, most of us think of… Continue reading
BNPL has its place. But regulation must not give it a competitive advantage over social purpose lenders.
Simon Dukes, CEO of CDFI Fair for You and the Fair Credit Charity, shares his views on the FCA’s latest Buy Now Pay Later announcement. The headline proposal in the FCA’s consultation on Buy Now Pay… Continue reading
The Consumer Duty one year on
The Financial Conduct Authority’s (FCA) Consumer Duty was a fundamental shift in regulation when it came into force in 2023. The Duty requires firms to put their customers’ needs first and drive meaningful change. It is… Continue reading
Dragons, Labradors and a New Era for Community Finance
Every day, staff in CDFIs across the UK meet to tackle the question: “How can we enable people, businesses, and social enterprises who are beyond the reach of mainstream banks to thrive?”. Two weeks ago, we… Continue reading
The Role of First Loss Funding in Financial Inclusion and Economic Growth
Last October, Responsible Finance launched a pilot to explore first-loss funding’s potential to crowd-in private investment to personal lending CDFIs to help them scale their lending and support financial inclusion. We are monitoring the work closely… Continue reading
“If the challenge is growth, investment is the solution.”
CDFIs want to work with the Government to enable this. The Chancellor of the Exchequer has vowed to lead the most pro-growth Treasury in our country’s history. She has rightly recognised that this means working with… Continue reading