ABCUL eXpresso - Affordability Assessment Guide for Credit Unions скачать в хорошем качестве

ABCUL eXpresso - Affordability Assessment Guide for Credit Unions

The 240 credit unions play an essential role in British society by offering loans to individuals who may not have access to traditional bank lending, often due to low income or high levels of debt. Like all lenders, credit unions aim to lend responsibly, ensuring that loans are affordable and will not put borrowers in financial difficulty. However, until recently, they were doing so without specific guidance on how to apply this principle in practice. The rules of the Financial Conduct Authority do not apply to credit unions. To help bridge this gap, Dr Andrea Fejos, Senior Lecturer at Essex Law School, led a two-year project involving comprehensive research and collaborative dialogue with various stakeholders. This work culminated in the Guide on Affordability Assessment for British Credit Unions, which accounts for the unique nature of credit unions and the specific challenges they face in assessing loan affordability, focusing on small-value, short-term loans. This webinar, recorded on 24 April 2025, introduced the Guide, its aims and the process behind its creation. It also discussed some key principles and standards of good lending practices and the policy choices that shaped them. Link to paper: https://papers.ssrn.com/sol3/papers.c...