Policymakers and regulators
Creating a market that works for everyone
Changing the system
20.3 million people in the UK are currently in financially vulnerable circumstances. Everything we do is focused on changing the financial system to better serve their needs.
Improving financial inclusion is not a job for financial institutions alone. There are many things that financial services providers can do right now to improve financial inclusion, but there is also an important role for the policymakers and regulators to provide leadership, support and a framework for firms to tackle this issue.
We bring people together to scope, evidence and deliver the change needed to policy and regulation to create a sustainable financial services market that works for everyone.
Working together with policymakers and regulators.
Fionn Sharpe
Fair4All Finance
Opportunities to work together
Financial Inclusion Plan
We’ve worked with mainstream finance, policymakers, regulators, community finance and third sectors to develop a shared Financial Inclusion Plan to tackle financial exclusion head on.
We look forward to working with government and parliamentarians on the next phase of financial inclusion in the UK.
Parliamentary Event – Monday 4 November 2024
We’re looking forward to welcoming invited guests to the Terrace Pavilion, House of Commons, on Monday 4 November 2024 for our ‘Tackling Financial exclusion together’ event.
We know that financial exclusion is a growing issue that impacts millions of people across the UK, and our new research highlights at least 20.3m people in the UK are currently in financially vulnerable circumstances.
We’ll be hearing from Tulip Siddiq MP among other speakers and talking about the establishment of a national financial inclusion strategy.
If you have any questions about this event, please contact Fionn@fair4allfinance.org.uk and Daisy.Rudd@fair4allfinance.org.uk
Key insights, tools and resources for you
Building inclusive access to finance
We’ve conducted research to better understand how people from minority ethnic groups experience, engage and view financial services providers, and how providers can best meet their needs now and in the future.
This report includes recommendations for regulators to build on existing workstreams on Diversity and Inclusion and the Consumer Duty, and to apply an ‘ethnicity lens’ across their work, to continue to drive better outcomes for customers from minority ethnic groups.
Tackling the rise in illegal money lending
Our report into the size and changing shape of the credit market supports contentions about growing lack of access for many households. Over 10m people said they had borrowed from friends or family in the previous 12 months, and more than 3m people had potentially used an unlicensed lender or loan shark in the last three years.
The significant challenge is reaching the right balance between consumer protection and consumer access to credit. Regulators could consider a broader definition of what constitutes good consumer outcomes that includes access as well as affordability, how to encourage small sum lending, and whether income maximisation tools (like benefit calculators) should be a mandatory part of customer journeys.
Consultation responses
We actively contribute to regulatory consultations, drawing on our research and evidence base to champion the changes and outcomes we want to see for people in financially vulnerable circumstances.
From strengthening protections for borrowers in financial difficulty, to reforming the Consumer Credit Act, and the future of Buy Now Pay Later, our statements, responses and calls to action are available on our website.
Work with us
If you’re interested in working with us or want to know more about anything you’ve read on this page, contact Fionn using the button below