The government has announced that the cost of payday loans will be capped under a new law. In a surprise move, Chancellor George Osborne said there would be controls on charges, including arrangement and penalty fees, as well as on interest rates. Continue reading
News
New rules to tackle payday lenders, but where is the support for ethical alternatives?
FCA proposals to restrict practices of payday lenders are very welcome. We also need to invest in our communities and community lenders. Continue reading
Change the message…
Ben Hughes examines how we can cut through the froth of the party conferences by spelling out how CDFIs are making a difference, and their £1.125bn contribution to GDP. Continue reading
The need for finance sector reform
Jennifer Tankard, Director of Community Development Foundation, explains why the Community Investment Coalition is working together for fair and affordable financial services for all.
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Hope and outrage
Celia Richardson explains why the Social Economy Alliance is optimistic about all the main party manifestoes for 2015 carrying policies that will grow the social economy Continue reading
The Church of England and the Credit Union movement
Malcolm Brown – Director of Mission and Public Affairs for the Church of England, examines the church’s support for credit unions and views on the financial sector.
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The credit union payday loan
A new report has found that a credit union payday loan product could break even in the long-term and has proved very popular. London Mutual Credit Union has piloted the use of a payday loan product, funded through the Barclays Community Finance Fund and Friends Provident Foundation. Continue reading
The Guardian: Community Development Finance Initiatives: how do they work?
Claudia Cahalane’s feature in The Guardian today explains how CDFIs build local communities through access to affordable, responsible credit for small business, charities and social enterprises. It includes our member Key Fund and data about the… Continue reading
Investing in community finance would help church put Wonga out of business
CDFIs have a business model that is specifically designed to deliver financial and social returns. They are well placed to offer the ‘win-win’ the Church is looking for in terms of financial returns with a clear conscience. Continue reading
CDFA welcomes church plans to put Wonga out of business
The Church of England plans to force payday lender out of business – by competing against it. CDFIs and credit unions provide the solution. Continue reading