High Cost Credit

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What does good relending look like?

The Financial Conduct Authority is in the final stages of consulting on its proposals for a new Consumer Duty, which focuses on ensuring improved outcomes for users of financial services and products. In this briefing we consider how the proposed duty could help to address long-standing problems associated with ‘relending’ in the UK’s consumer credit markets.

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Protecting low-income borrowers in the credit crisis

In 2008, as the financial crisis hit, our Executive Director, Damon Gibbons, teamed up with Ian McCartney MP to write a briefing focused on the need to protect low income borrowers. The report coined the term 'credit dependency', to describe the relationship with high cost legal lenders, and called for caps on the cost of credit, greater focus on affordable lending, and action to tackle illegal lenders.

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Taking on the Moneylenders: Lessons from Japan

In 2012 we undertook a study tour to Japan and investigated the impact of their measures to cap the cost of credit and prevent irresponsible lending. Our report highlights the positive effects of these measures, and drew out the implications for the UK.

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A Fresh Start After Covid‑19 - An outline strategy to tackle Britain’s household debt crisis

We need urgent action to address Britain’s household debt crisis. Even before the Covid‑19 pandemic 7.2 million people (fourteen percent of the population) were heavily burdened by debt.

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The Social Impact of Fair for You

This report provides an assessment of the social benefits that have been created by Fair for You: a Community Interest Company providing affordable credit to families with incomes in the lower half of the income distribution throughout the UK.