The regulation of Buy Now Pay Later is a long time coming. In the meantime, lenders in this sector haven’t been making any contribution to the funding of debt advice. It's time for #BuyNowToPayNow

Following the Chancellor's Mansion House speech there have been calls for the FCA to review its creditworthiness and affordability rules. In this blog, we argue these regulations are not the reason why fewer low income households have been able to access credit in recent years. Those calling for a watering down of consumer protections are ignoring the wider context of the cost-of-living crisis which has made consumer credit less affordable.

A new report from Fair4All Finance argues there has been a severe decline in the availability of credit for lower income households, and that we should consider "regulatory adjustments" to address it. In our response, we argue that there is little evidence of a 'credit vacuum' and that now is not the time to embolden high-cost lenders who are trying to roll back the regulatory clock.

In November 2022, the FCA identified several serious failings with the current system of credit information reporting. These included poor governance arrangements, systemic inhibitors to innovation, and a lack of comprehensive and accurate reporting. In this blog, we provide our reflections on the FCA's proposed remedies and argue that fundamental changes are needed to the types of information being collected and reported.

The Financial Conduct Authority ('FCA') is in the final stages of consulting on its proposals for a new Consumer Duty, which focuses on ensuring improved outcomes for users of financial services and products. In this briefing we consider how the proposed duty could help to address long-standing problems associated with ‘relending’ in the UK’s consumer credit markets.

CfRC reports on the social impact of Fair for You. By providing fair, decent, and flexible loans to help low income families obtain essential household items including beds, cookers, fridges, and washing machines, Fair for You has not only eased their financial burdens but also had hugely positive impacts for their health and well-being, including that of their children.

Last year the Centre for Responsible Credit was commissioned by The Commonwealth to provide a discussion paper on rising levels of household debt and how to mitigate its impacts for households and economies.