Together with over 30 organisations that are part of the Fair Banking for All Campaign, we are calling for the Government to introduce a Fair Banking Act that would require banks to transparently share information about their performance in tackling access to credit. For an introduction to the Fair Banking for All Campaign, read our blog here…
Millions of people can’t get fair, affordable credit when they need it – pushing them deeper into poverty. A caring society should enable everyone to flourish but mainstream banks are refusing to serve many people on low incomes, forcing them to turn to high-cost lenders and illegal loan sharks.
This could be through providing affordable credit to people on low incomes themselves, or by supporting community-based credit providers such as credit unions and CDFIs (Community Development Finance Institutions) to do so. It would create a ratings system to show which banks are doing well and give the FCA (Financial Conduct Authority) the tools and incentives to drive change.
Click here for more information on the Fair Banking Act.
Take action now! Please write to your MP using our simple e-action asking them to support a Fair Banking Act. Together we can seek fairer banking for everyone.