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New Prospects backs banking campaign

Tuesday, January 26, 2010

New Prospects has added its support to the ACEVO Better Banking campaign. 

Third sector organisations are urging a review of banking procedures to ensure that vulnerable and excluded people are not penalised by the banking system. 

The different areas of the third sector represented by the campaign reflects the far reaching implications of financial exclusion: it increases poverty levels amongst the lowest-income groups, which has a huge negative impact on those struggling with debt, poor housing, old age, ill-health, physical and mental disabilities, and social exclusion.

The campaign is pushing to bring in new measures which will ensure banks give full financial disclosure, cap unfair credit rates for those who cannot afford them, demonstrate that they provide fair access to credit and that a proportion of future profits are reinvested to support activities of benefit to the public.

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