responsible credit
HOME   IMPRINT - ECRC   PRIVACY POLICY   SITEMAP   | ECRC IN THE MEDIA |
Search OK

 
Home
NEW Centre for Responsible Credit is created in the UK! It's first activity is a call for 'Five Ways to Improve the UK Financial Services Bill'

The creation of this Centre is good news for research in the UK.

Here attached is the Centre’s first briefing for MPs on the UK Financial Services Bill which is now before Parliament in the name of Centre for Responsible Credit. Please read the attachment below “Five Ways to Improve the Financial Services Bill”

--------

About the Centre for Responsible Credit

Background

The global financial crisis has highlighted the importance of ensuring responsibility in credit provision for consumers, businesses, communities, and the wider economy. Over the past thirty years the role of the state in providing for the welfare needs of its citizens has declined dramatically. In its place, households and businesses have become more reliant on the use of credit– to invest in their homes, education and skills, and to attempt to smooth out fluctuations in earnings and consumption. Taken together these uses of credit can be a powerful driver for economic growth. Access to credit is therefore vitally important. However, the quality of credit – the terms and conditions on which it is provided, the amount we take on, and the purposes to which it is put – are also critical. How we balance the demand for credit with responsibility in its supply is therefore one of the most pressing issues affecting society. The current crisis has demonstrated how devastating the consequences can be when we get this balance wrong.

The Role of the Centre for Responsible Credit

The Centre for Responsible Credit is a new independent not for profit company established with support from the Centre for Economic and Social Inclusion to:

  •        Act as a dedicated resource to monitor the development of credit markets
  •        Research models of responsible provision, and
  •        Promote policy responses which protect the long term interests of consumers, businesses, and the economy.

The Centre is particularly focused on the U.K but given the global nature of credit markets also works in partnership with similarly focused organisations at an international level. We are also as concerned with helping local communities tackle problems of over-indebtedness and financial exclusion as we are with national and international policy making. Our work is directed by an Advisory Group of leading academics and consumer advocates drawn from both within the UK and internationally.

The official launch of the Centre will take place in January 2010. For further details please contact Damon.gibbons@responsible-credit.org.uk


ID: 44825
Publication date: 02/12/09
   
 

Created: 04/12/09. Last changed: 07/12/09.
Information concerning property and copy right of the content will be given by the Institut For Financial Services (IFF) on demand. A lack of explicit information on this web site does not imply any right for free usage of any content.