A community reinvestment act for the UK

Over at the Londlrs-logoon Rebuilding Society, I have been hearing from Naomi (Kingsley) about the emerging campaign coalition for a UK Community Reinvestment Act. The US legislation has been a great tool for getting banks to serve all communities, black or white, uptown or downtown, free of discrimination.

One first step, championed by Mick McAteer of the Financial Inclusion Centre, might be to extend the obligation of the new equalities legislation to the Financial Services Authority.

Or if George Osborne’s plan for a Consumer Protection Agency for financial services moves ahead, this could surely be part of the duties it has to open up data on who the banks serve or deny.

It feels like a good time for change.

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