6 Fair Access to Credit Task Group PDF 783 KB
Minutes:
Background:
This report provided details of the outcome of the Overview and Scrutiny Task Group in-depth review of fair access to credit, which had originated from a motion considered at Full Council on 12 January 2012 on the issue of affordable credit and the decision to refer this issue to a cross party Overview and Scrutiny Task Group.
The Task Group met with representatives from a number of organisations. This included the Medway Citizens Advice Bureau, Credit Unions, trade associations, a loan provider, the Youth Parliament and officers from various sections of the Council. This was supported by additional written submissions from a number of organisations/individuals working within the remit of the review and further desktop research, which led to the Task Group developing 29 recommendations.
Following the conclusion of the review, the Task Group’s report was submitted to both the Business Support and Regeneration, Community and Culture Overview and Scrutiny Committees, details of which were set out in paragraphs 5 and 6 of the report.
It was noted that the main findings/recommendations of the review responded to the Task Group’s consideration of:
A Diversity Impact Assessment (DIA) screening form had been completed and was attached at Appendix 1 to the review document. The assessment focused primarily on the recommendations for Council services, as the Government departments would have their own assessment frameworks for anything that they decided to action. The screening form showed that it was not necessary to undertake a full assessment on the review document.
Decision number: |
Decision: |
118/2012 |
The Cabinet welcomed the current scrutiny of the credit market at a national level, as evidenced by the Office of Fair Trading review of payday lending. |
119/2012 |
The Cabinet agreed that the council should respond to consultations on the consumer credit market where appropriate. |
120/2012 |
The Cabinet noted that Medway Citizens Advice Bureau, with support from Wonga, was undertaking a review of lending products and the level and nature of consumer indebtedness amongst Medway residents and would support the findings of this being reported to the proposed Social Impact Board (see decision 121/2012). |
121/2012 |
The Cabinet supported the establishment of a multi-agency Social Impact Board in Medway looking at issues of debt, worklessness and housing. The objective being to continue and ... view the full minutes text for item 6 |