Responsible Credit

🚗⚡Electric Vehicle (#EV) adoption remains skewed towards higher‑income households. Could #credit help change that? Our latest blog considers Scotland's Used Electric Vehicle Loan (UEVL) scheme, from @EnergySvgTrust and @transcotland, and explores how well‑designed credit, alongside grants, scrappage and decision‑support tools, could help ensure the EV transition is not only faster, but fairer too - #ResponsibleCredit #JustTransition #NetZero @_F_L_A @UKFtweets @Fair4AllFinance 👉 responsible-credit.org.uk/posts/driving-…

Out today: our Chief Exec's new book: Trust and Power in Consumer Credit Relationships: Rethinking Creditworthiness in the Data Driven Age Consumer credit relationships are built on a broken dynamic: lenders wield immense power, while borrowers are required to offer near-total trust. This book introduces 'trust intelligence'—a framework to rebalance this relationship by shifting from one-sided surveillance to genuine engagement and mutual accountability. link.springer.com/book/10.1007/9…

Efforts to tackle the harms caused by financial abuse have exposed the need for credit reporting to evolve. Context, fairness and accountability can’t be optional. Read more in our latest blog: bit.ly/4aivqMq

Credit-score company encouraged me to borrow again when I was nearly debt-free' - 'Amanda' was bombarded by ads encouraging her to 'check her credit score'. "What Amanda didn't know was that agencies like @Experian are paid commission by lenders to promote their credit card debt”. BBC financial journalist, Iona Bain is on the money with how credit score providers can cause harmful debts. ➡️ responsible-credit.org.uk/reports/good-s…

Our report says @theFCA should work with the #creditscore industry, the CIGB +consumer groups to: ✔️Protect vulnerable borrowers via robust new marketing controls ✔️Deliver a revamp of credit score dashboards & notifications ✔️Proactively link struggling borrowers to debt help

We found messaging about credit scores drives financial hardship: a third (32%)of low-to-middle income borrowers are going without essentials like food and heat specifically to preserve their credit score @Clearscore @CreditKarma @Experian @Equifax @TransUnion

📢 Today, we’ve published new research showing a strong link between #creditscore providers and harmful debts. Almost half of low-income borrowers act on credit offers made via score providers, yet within months, 1 in 5 experiences financial distress ➡️responsible-credit.org.uk/reports/good-s…

If the Chancellor is serious about going for growth, measures will need to include a debt write-off for lower-income households. The Budget is a critical moment to tackle the cost-of-living crisis, and lay new foundations for those struggling the most. bit.ly/48kGOp1

❤️‍🩹If the government wants growth, it must start with the nation’s health. Today, our Executive Director @peterbabudu writes for @BigIssue about how in the forthcoming Budget, the Government must see improving health as a precondition for prosperity. bigissue.com/opinion/autumn…

For our 10th anniversary, we commissioned an impact report from @responsiblecred. It shows customers improving their finances, feeling less anxious and depressed, and better able to afford healthy food and essentials. Watch the video or read more: fairforyou.co.uk/10years

How can we better support people with long-term health conditions who are pushed into financial hardship? Over the past five years, in partnership with @ImpUrbanHealth we've been delivering the Financial Shield project in South London — a practical test of how to do just that. Read more about the impact and insights from the Financial Shield project in our new report at bit.ly/4hkj48w

People with long-term health conditions are often forced into low-paid, precarious work - if they're able to work at all. So how can we best support them with the added harm of debt?

Fair credit is vital. Fair credit works. This new report from the Centre for Responsible Credit (@responsiblecred) highlights again the many positive impacts - both financial and non-financial - that ethical lending can have on low-income or financially-excluded customers.

Great to see our Financial Shield project highlighted by @ImpUrbanHealth in @BigIssue Community based advice, delivered in partnership with primary care, makes a huge difference to the lives of people with long-term health conditions bit.ly/44ZYnJ6

New research: some lower-income borrowers are highly sensitive to their credit scores, and this could be negatively impacting their financial behaviours: causing them to prioritise credit repayments over the payment of household bills and other essentials. bit.ly/4574o85