There has been a considerable expansion of small sum, high cost, consumer credit products in the UK in recent years.
The expansion of these products, which are typically sold to households with below average incomes, has led to concerns about the wider impacts of borrowing on the ability of some households to pay for essential services and on living standards more generally.
The Church of England has taken a central role in responding to the rise of credit companies. The Archbishop of Canterbury, Justin Welby, has famously declared his intention to “compete Wonga out of business” and has set up a Task Group on Responsible Credit and Saving, chaired by the former head of the Financial Services Authority, Sir Hector Sants.
The event will also include a presentation from the Church Credit Champions Network and examples of local and national fair credit initiatives.
Places at this event are free, but should be booked in advance via Eventbrite. For more information, contact Polly Taylor, project coordinator of the Archbishop of Canterbury’s Task Group on Responsible Credit and Saving by email to email@example.com or phone 020 7 898 1469.