Millions of individuals, small and medium-size businesses (SMEs), and social enterprises are locked out of access to affordable credit. This holds back individuals and communities by preventing them from fully participating in the economy. The government has the tools to change this. As part of a national financial inclusion strategy, a Fair Banking Act would require regulators, mainstream finance institutions and purpose-driven finance institutions such as CDFIs and credit unions to work in partnership to extend lending to financially excluded communities. We are happy to be part of the #FairBankingForAll campaign, asking for the government to introduce a Fair Banking Act as part of a national financial inclusion strategy. 

In October we were in Parliament, at the Roundtable on financial exclusion and the potential of a Fair Banking Act. We heard from speakers with lived experience of financial exclusion, actor and activist Michael Sheen, Finance Innovation Lab, ABCUL, Federation of Small Businesses, Lendology and MoneyMatiX. A really important reminder from one of the speakers Tynah Matembe DEEU CEO of Money Matix “The truth is the system doesn’t care about those who don’t fit neatly into a tick box… working towards a Fair Banking Act is essential.” 

Find out More:

Briefing Unlocking Access to Credit: Why the UK needs a Fair Banking Act.

Research and Impact: Recent Research and Impact aims to quantify the impact a Fair Banking Act could have for the UK.

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