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
Tag: financial inclusion
Podcast episode 7: resilience and consistency with Elaine Rimmer
Lancashire Community Finance was recognised earlier this year for its resilience and consistency in delivery of access to finance. It provides personal, home improvement and startup loans and reaches clients “even harder to reach than… Continue reading
CIC Blog: Ethnicity and Financial Exclusion
The UK is one of the most powerful financial centres in the world, yet financial exclusion remains a significant issue. At the same time, a recent report into racial prejudice in Britain today shows that despite… Continue reading
CIC Blog: Penny for your thoughts? ATMs & the future of cash
Recent changes by LINK to its interchange rate means that thousands of free-to-use cash machines in the UK are threatened, potentially limiting access to cash for hundreds of communities. Its plans mean that the fee banks… Continue reading
Blog: Credit Reference Agencies must start taking financial inclusion seriously
Inclusive credit scoring 28.02.2018 A known barrier to financial inclusion is the credit scoring approaches utilised by both mainstream and affordable lenders. Because of them, UK households could be paying £1,770 extra per year for basic… Continue reading
Responsible Finance calls for credit reference agencies to do more to support financial inclusion
28.02.2018 Current credit scoring approaches could be costing households £1,770 extra per year Credit reference agencies are using traditional credit scoring methods that are out of sync with modern financial life and that fail to accurately… Continue reading
CIC blog: Opportunity Zones in the US – a tool for community development?
Trump’s Tax Cuts and Jobs Act. 22.02.2018 The sweeping overhaul of the US tax system passed in 2017 has attracted widespread debate across America. Many believe that multinational corporations and the extremely wealthy are set to… Continue reading
Breathing Space call for evidence
Responsible Finance response. Problem debt places a heavy burden on individuals and families. It can lead to people falling into a persistent cycle of debt dependence with an ever-growing burden of debt, triggering stress and… Continue reading
CIC Blog: tackling financial exclusion in Scotland
Using data to understand and tackle financial exclusion in Scotland – summary of a round table discussion in the Scottish Parliament, hosted by Social Investment Scotland (SIS) and the Community Investment Coalition (CIC) On a… Continue reading
Solving the consumer debt problem: why we need a tax relief for responsible lenders
The Responsible Finance sector remains a critical but under-resourced source of responsible credit for hard pressed families 29.08.2017 In June, almost exactly 10 years after the start of the banking crisis, the Bank of England ordered… Continue reading