New Centre for Responsible Credit Launched

[Legal Beagles]

The Centre for Responsible Credit is an independent not for profit company that is being established with the support of the Centre for Economic and Social Inclusion
The Centre for Responsible Credit aims to:

• Monitor the development of credit markets and financial services
• Research models of responsible provision
• Promote policies to protect the long term interests of households and support sustainable economic growth

Over the past thirty years households have become more reliant on credit as the means to secure homes, invest in education and skills, and smooth out fluctuations in income and expenditure. Taken together these uses of credit can be a powerful driver for economic growth. Ensuring access to credit is therefore vitally important.

One of the primary concerns for the Centre for Responsible Credit is ensuring that future credit provision is inclusive, balancing high levels of demand for credit with responsibility in its supply and use.
Further information on the work of the Centre for Responsible Credit , including details of its subscriptions package comprising weekly e-bulletins and our bi-monthly journal, can be found on their website www.responsible-credit.org.uk


More...

[enaid]

Re: New Centre for Responsible Credit Launched

Have had a little read as I do believe something like this is very much needed. Can't get my head around 'not for profit' is it out of the goodness of their hearts then?
Also they are recruiting if anyone fancies a change of career.

[Amethyst]

Re: New Centre for Responsible Credit Launched

Responsible Lending Indicators & Lender Corporate Social Responsibility
The current global financial crisis is significantly constraining access to credit for households, exacerbating the pre-existing problem of financial exclusion. The immediate consequences include less opportunity for consumers to reschedule outstanding financial commitments, in respect of both mortgages and consumer credit, leading to higher levels of default and subsequent exclusion from mainstream credit markets. For those individuals with existing blemishes on their credit records it is increasingly likely that they will be forced to resort to high cost credit alternatives.

Whilst responsibility in lending, and financial services provision more generally, is likely to remain a key public policy concern as we move forwards, there is a danger that 'responsible' will simply be taken to mean 'less' and will result in a withdrawal of credit options for households, particularly those on lower incomes.

With financial support from Citi, the Centre for Responsible Credit is working with partners in the European Coalition for Responsible Credit to establish responsible lending indicators that reflect the need to balance the two issues of responsibility and access and which can be incorporated within existing lender Corporate Social Responsibility reporting frameworks.

The project will complete in June 2010 and findings will be disseminated at the international Responsible Credit conference scheduled for July 2010 in Hamburg.

[thincat]

Re: New Centre for Responsible Credit Launched

Hi Amethyst,
Something like this is badly needed,however I do notice that NO politician from ANY of the
main political parties has put forward as part of an Election Manifesto a policy for increased Consumer Protection, greater access to Advice Agencies, improving Advice Facilities and greater justice for consumers and greater conistency in assessment of
consumer disputes. I have NEVER heard ANY party addresss these issues in the last
30-40 years(correct me if I'm wrong!) and politicians wonder why the voter turnout has
plummeted over the last 30 years. I rest my case.

Thincat.