Lords Financial Exclusion Committee says high cost credit products must be tackled to avoid ‘poverty premium’
The Lords Financial Exclusion Committee has published a report highlighting how regulation has been successful in battling abusive practices by payday loan companies but says that banks are failing the customers who need them the most, leaving the poorest to rely on expensive products. It recommends that controls on “rent to own” products and other […]
Read MoreMALG Chair launches new research on customer vulnerability and debt collection
MALG Chair Liz Barclay this morning launched the Finance & Leasing Association and The UK Cards Association’s new publication: ‘Vulnerability; a guide for debt collection – 21 questions, 21 steps’. Both trade associations and a number of other MALG members including the Credit Services Association and the Money Advice Trust, worked in partnership with the […]
Read MoreMALG members launch joint ‘Taking Control’ campaign for bailiff reform
Money Advice Liaison Group members The Money Advice Trust, AdviceUK, Christian’s Against Poverty, Citizens Advice and StepChange have launched a new campaign for bailiff reform called ‘Taking Control’. Despite the April 2014 reforms, debt advice charities continue to receive reports of widespread problems with the behaviour of bailiffs and bailiff firms. The ‘Taking Control’ report […]
Read MoreChristians Against Poverty launches new accessible and holistic financial education service
Christians Against Poverty (CAP) has launched a new service, CAP Life Skills. This complements its current debt management work by helping build financial capability through a holistic eight-week course run as a weekly community group meeting. Statistics show that 57% of British people do not track their spending, only 41% of the population are saving and […]
Read MoreR3 publishes research showing 1 in 4 British adults’ mental health affected by personal finances
R3, the insolvency and restructuring trade body, has published a new briefing showing that 1 in 4 British adults’ mental health is affected by personal finance concerns. The research, carried out in partnership with ComRes, was conducted with over 2,000 adults. Key findings include: 24% of British adults say that their personal or household finances are currently […]
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