14.02.2018 Conference will address exploitation by high cost credit providers and “how to build a financial services sector that works for everyone” The stage and screen actor and founder of the End High Cost Credit Alliance,… Continue reading
Tag: High interest lenders
Responsible finance is the only real alternative to predatory lending
05.02.2018 This week the FCA published an update on its work in the high cost credit market. A fuller picture of the FCA’s position and potential interventions in the rent to own, home credit, catalogue… 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
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
Peak payday has passed – what next?
Niall Alexander of Moneyline discusses the implications of an interest rate cap for payday lenders Continue reading
Governnment to introduce interest rate cap
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
CDFA welcomes future cap on payday lenders’ rates
CDFA has welcomed a Government commitment to amend the Financial Services Bill which will give the new financial regulator the power to cap interest rates on payday loans. Continue reading
Demand for Community Finance soars as ethical lenders take on the Wongas
04.10.2012 Enquiries to ethical ‘community finance’ providers have more than doubled in the last year as individuals seek routes out of high interest debt traps, according to new figures released by the CDFA today. Continue reading
Payday loans soar
17.09.2012 BBC News Personal Finance Correspondent, Simon Gompertz, writes on his blog today that loans and profits at high interest lender Wonga have soared in the last 12 months. Continue reading
CDFIs a lifeline for 21,000 households – saving many from loan sharks
Consumer loans from CDFIs have increased by 35% in the last financial year Continue reading