The United Kingdom leads the world in financial services and yet more than two million adult Britons don’t have a bank account. In the autumn of 2014, the Financial Inclusion Commission came together to find out why, and to put the issue on the political agenda ahead of the General Election. Chris Pond explains what the Commission is calling for from the next government. Continue reading
Tag: access to finance
New government = new horizons?
Ben Hughes reflects on the forthcoming election and its implications for our industry. With the three main national parties having an evident commitment to at least some aspects of the work of CDFIs, can we look forward to a time of new hope and opportunity? Continue reading
Just Money – Civil Society Action for Community Finance
David Barclay explains how the Just Money campaign has been working with experts (including the CDFA) to develop a proposal for a Community Finance Foundation, endowed through £200 million of fines on banks and payday lenders over the next parliament. Continue reading
Celebrating 25 years of helping East Mids entrepreneurs
Neil Millington explains how First Enterprise has transformed its lending and business support over a quarter of a century, and why they’re so proud of one of their clients crowned winner at this year’s Citi Microentrepreneurship Awards Continue reading
How do we meet the growing need for affordable credit?
13.04.2015 A new discussion paper by the Carnegie UK Trust has set out the need for a range of affordable alternatives to meet the demand for small sum short-term credit – including CDFIs and credit unions.… Continue reading
Citizens UK launches proposal to save half a million people from debt
A proposal to use £200m of fines on banks and payday lenders to support community finance organisations such as credit unions has today been launched by the national community organising charity Citizens UK. The idea, which is supported by the Archbishop of Canterbury’s Task Group on Responsible Credit and Savings, would see the creation of a Community Finance Foundation to help ethical alternatives to high-cost credit expand their reach and improve their sustainability. It is estimated that over the next five years such a venture would help 500,000 people avoid high-cost credit, saving them over £200m per year in interest and fees and reducing the cost of problem debt on wider society by £1.4bn. Continue reading
Making things better: bringing equality to financial services
Ben Hughes on how we can bring equity to the provision of financial services in the UK Continue reading
Peak payday has passed – what next?
Niall Alexander of Moneyline discusses the implications of an interest rate cap for payday lenders Continue reading
Bank referral legislation is welcome news for SMEs
The CDFA welcomes George Osborne’s announcement that the Government will introduce legislation that will require banks to refer decline customers to alternative providers. The proposed new rules mean that high street banks will have to offer to connect SMEs that they decline for loans to alternative sources of finance. Continue reading
Bank lending disclosure is good news for poor communities
Local lenders are celebrating a breakthrough in their campaign for fair access to finance across the UK, following the government’s announcement that banks will publish lending data from January. Continue reading