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Regulating for growth, or (de)regulatory sludge?

Calls for deregulation are ignoring the lessons of the past. In this blog we draw on our recent response to the FCA and FOS joint call for input concerning 'mass redress' events to highlight how a lack of clear rules and (de)regulatory 'sludge' combine to cause widespread consumer harm. We need better regulation not deregulation to support 'growth without consumer exploitation'.
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Latest News and Views

Latest News and Views
News
News

Regulating for growth, or (de)regulatory sludge?

Calls for deregulation are ignoring the lessons of the past. In this blog we draw on our recent response to the FCA and FOS joint call for input concerning 'mass redress' events to highlight how a lack of clear rules and (de)regulatory 'sludge' combine to cause widespread consumer harm. We need better regulation not deregulation to support 'growth without consumer exploitation'.

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OUR WORK IN NUMBERS
150

Million pounds per year saved for 760,000 payday loan borrowers since 2015 due to our successful campaign to cap the total cost of credit.

1,200,000

Over 1.2 million pounds of additional benefits and debt reductions for users of our Financial Shield project in Lambeth and Southwark

500

+ front-line debt advisers now active in our campaign to save face to face debt services from cuts.

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Latest Reports and Upcoming Events

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Mass Redress: Response to FCA and Ombudsman Call for Input

The Centre for Responsible Credit response to the joint Financial Conduct Authority and Financial Ombudsman Service call for input concerning 'mass redress events'
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Mass Redress: Response to FCA and Ombudsman Call for Input

The Centre for Responsible Credit response to the joint Financial Conduct Authority and Financial Ombudsman Service call for input concerning 'mass redress events'
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REPORT
upcoming event
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The Fair for You and Iceland Food Club: Impact Evaluation

The Food Club is a highly innovative partnership between Fair for You and Iceland Foods, providing small sum, interest-free credit to a demographic that has been hit hard by the cost-of-living crisis. Our evaluation indicates it has been highly successful: reducing the use of interest bearing credit for essentials, and helping people stay on top of their household bills. And it has improved diets; stopped children from going hungry, and improved both physical and mental health in many cases.
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The Fair for You and Iceland Food Club: Impact Evaluation

The Food Club is a highly innovative partnership between Fair for You and Iceland Foods, providing small sum, interest-free credit to a demographic that has been hit hard by the cost-of-living crisis. Our evaluation indicates it has been highly successful: reducing the use of interest bearing credit for essentials, and helping people stay on top of their household bills. And it has improved diets; stopped children from going hungry, and improved both physical and mental health in many cases.
BUY NOWDownload Report
REPORT
upcoming event
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The need for debt advice and the challenges ahead

In 2021, the Money and Pensions Service ('MaPS') changed the way it estimated the number of people in need of debt advice. Undertaking secondary analysis of the MaPS 'Debt Need Survey' for 2023 we find its approach to be overly restrictive, excluding 5 million people who clearly have a need for advice. The MaPS approach is so restrictive that it even excludes a third of people who are receiving debt advice from its definition of needing this.
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The need for debt advice and the challenges ahead

In 2021, the Money and Pensions Service ('MaPS') changed the way it estimated the number of people in need of debt advice. Undertaking secondary analysis of the MaPS 'Debt Need Survey' for 2023 we find its approach to be overly restrictive, excluding 5 million people who clearly have a need for advice. The MaPS approach is so restrictive that it even excludes a third of people who are receiving debt advice from its definition of needing this.
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