*Apologies for cross-posting*

Dear Colleague,

The Universities of Birmingham, Coventry and Warwick are delighted to have been funded by the AHRC to bring two leading experts on responsible lending from Australia to the UK to share lessons on how both the for-profit and not-for-profit financial services sectors can improve levels of responsibility in relation to lending. The experts are: Gerard Brody, the Chief Executive Officer of the Consumer Action Law Centre based in Melbourne; and Adam Mooney, the Chief Executive Officer of Good Shepherd Microfinance.

The first of two open events will take place in Birmingham on the afternoon of the 23^rd May and the second will take place in London on the morning of the 24^th May. Both events will cover similar issues but are designed to give a choice of location and date in order to facilitate more people to attend.

At each event, Gerard and Adam will give formal presentations on recent reforms and initiatives in Australia.

Gerard will examine the development and impact of the Australian national regulatory framework for consumer credit that commenced in 2010. The framework includes licensing for credit providers and brokers, responsible lending obligations, and mandatory membership of external dispute resolution. The presentation will also examine efforts since then to enhance the laws as they apply to payday loans and consumer leasing products, including a proposal to further regulate these products in 2017.

The main focus of the event will be on unsecured credit but Gerard will also report on recent concerns in Australia about mortgage broker remuneration leading to poor outcomes, and legal action taken by ASIC (the Australian Securities and Investments Commission) which suggests that credit assessment (using benchmarking or an algorithm) may breach the requirement to inquire into (and verify) an applicant's actual expenditure as part of the assessment process. There have also been recent efforts to bring in "more comprehensive" credit reporting to aid responsible lending decisions and also more competition, but this is causing some difficulty in the marketplace including consumer complaints.

Adam is Chief Executive of Good Shepherd Microfinance which is a world leader in financial inclusion products, services and advice. He will outline an innovative affordable loans program for people on low incomes in Australia. Good Shepherd Microfinance's No Interest Loan Scheme (NILS) has been running for 35 years and is now in 650 locations through a national connected network of community providers. Evaluations show that four out of five clients experience economic mobility and four out of five people stop using payday loans. This scheme is run by Good Shepherd Microfinance and involves a leading partnership with the National Australia Bank and federal and state governments. Inclusive insurance and savings programs have been added recently.

Adam will also speak about Australia's Financial Inclusion Action Plan program, which Good Shepherd Microfinance were appointed by the Australian Government to develop and manage. Emerging from Australia's hosting of the G20 in 2014, this program so far involves 30 organisations including banks, insurers, pension funds, energy companies, universities, state governments, fintechs, community organisations, utilities companies and others committing to large scale, significant actions - measurable, accountable and time specific, which are assured by EY with the social impact evaluated annually.

The Birmingham event will start at 2pm with tea/coffee for a 2.30pm start, concluding at 4.30pm

The London event will start at 9.30 with tea/coffee for a 10am start, concluding at 12.00.

Both events are free but numbers are limited. Full details of the venues will be provided to those who register.

Please email Nicola Boyle ([log in to unmask]) if you would like to participate in either of the events.

Yours,

Karen Rowlingson and Lindsey Appleyard

Dr Lindsey Appleyard

Research Fellow

Centre for Business in Society (CBiS)

Coventry University

Priory Street

Coventry, CV1 5FB

E: [log in to unmask]

T: 07557425623

Twitter: @DrAppleyard

Projects

‘How can we ensure responsible borrowing?’ AHRC follow on funding for impact and engagement with Prof Karen Rowlingson (University of Birmingham) and Prof Tom Sorrell (University of Warwick) (January to September 2017)

‘Payday futures: sub-prime credit markets in transition?’ Barrow Cadbury with Carl Packman (Toynbee Hall) (January to December 2017)

‘What works?’ Money Advice Service with CBiS and Open University (February 2017 to April 2018)

Publications

Appleyard, L. and French, S. (2017) ‘You’ve got to fight! For your right! … to fair banking’. The Conversation https://theconversation.com/youve-got-to-fight-for-your-right-to-fair-banking-74944

Appleyard, L. Rowlingson, K. and Gardner, J. (2016) ‘Variegated financialization of sub-prime credit markets’. Competition & Change, 20 (5) 297-313.

Rowlingson, K. Appleyard, L. and Gardner, J. (2016) Payday lending in the UK: the regul(aris)ation of a necessary evil?. Journal of Social Policy, 45 (03) 527-543.

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