Former chief City regulator Hector Sants has introduced a national network of churches, communities and credit unions as an alternative to payday lenders.
Tag Archives: lending
Mainstream banking facilities have all but disappeared from low income areas. The Bank of Salford offers an alternative model.
The coalition is still failing to get banks lending to businesses, new figures from the British Bankers’ Association (BBA) reveal, despite the introduction of the government’s Funding for Lending Scheme (FLS), which gives cheap funding to banks on the basis that they lend money to households and businesses.
TweetThe long awaited outcome of the government’s “Project Merlin” deal with the banks has been published. Questions are already being asked about the failure of government to get tough on bonuses and the low level of transparency on pay, but perhaps most worrying is the failure to deal with the central question of bank lending […]
Figures released today by the Bank of England suggest households’ demand for borrowing remained weak in September. Net lending secured on dwellings (i.e. mortgage borrowing) increased by only £0.1 billion in the month and was just 0.8 per cent higher than in September 2009.