In the Balance: Consumer Protection and Credit Exclusion in the Affordability Crisis

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In the Balance: Consumer Protection and Credit Exclusion in the Affordability Crisis

Is consumer protection shutting low-income households out of credit, or failing to protect them from it? Drawing on Bank of England/NMG survey data, In the Balance finds over a million households were given more credit while already unable to afford the essentials, and sets out reforms for the FCA, the Treasury and the financial inclusion sector.

Report
Event

In the Balance: Consumer Protection and Credit Exclusion in the Affordability Crisis

Is consumer protection shutting low-income households out of credit, or failing to protect them from it? Drawing on Bank of England/NMG survey data, In the Balance finds over a million households were given more credit while already unable to afford the essentials, and sets out reforms for the FCA, the Treasury and the financial inclusion sector.

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Our work makes a real difference to lower income households. We were leaders in the campaign for caps on the costs that payday lenders and rent-to-own firms can charge, which has saved borrowers an estimated £150 million per year since 2015. And our FlexMyRent project could eliminate the need for social housing tenants to incur any interest at all.

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