Access to alternative lending forms

Meeting: 
MQT on 2015-11-18
Session date: 
November 18, 2015
Reference: 
2015/3664
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor
Category: 

Question

Following a ruling forcing Dollar Financial UK to refund £15.4m after many customers were given loans they could not afford to repay, what recent efforts have you made to enable Londoners to access low interest finance solutions such as credit unions?

Answer

Answer for Access to alternative lending forms

Answer for Access to alternative lending forms

Answered By: 
The Mayor

Since 2009, I have promoted free debt advice services, including credit unions, through my annual Know Your Rights marketing campaign and a dedicated presence on the GLA's website. The next campaign will commence in January 2016.

The London Schools Excellence Fund is funding the Personal Finance Education Group (PFEG) to support 102 teachers in 12 London secondary schools in delivering financial education. The teachers will also disseminate successful approaches to teaching financial education to other schools.