PRA Group and StepChange Advance Financial Inclusion and Consumer Resiliency in UK Parliament
PRA Group (Nasdaq: PRAA) and StepChange Debt Charity hosted a key roundtable debate in the UK House of Lords on February 4, 2025, focusing on financial inclusion and consumer resilience. The event, chaired by Credit Services Association CEO Chris Leslie, brought together stakeholders from banks, credit monitoring agencies, non-profits, and regulatory bodies.
The discussion centered on the Financial Conduct Authority's Credit Information Market Study findings, which revealed that current credit reporting frameworks may not deliver consistent outcomes for consumers. Research by both organizations showed that concerns about credit scores often prevent people from seeking financial help, while those recovering from financial difficulties face prolonged financial exclusion.
The roundtable aimed to advance practical credit reporting solutions to support greater financial inclusion, enabling individuals paying off debt to re-enter the financial ecosystem and access affordable credit.
PRA Group (Nasdaq: PRAA) e StepChange Debt Charity hanno organizzato un importante dibattito roundtable nella House of Lords del Regno Unito il 4 febbraio 2025, incentrato sull'inclusione finanziaria e sulla resilienza dei consumatori. L'evento, presieduto dal CEO della Credit Services Association Chris Leslie, ha riunito rappresentanti di banche, agenzie di monitoraggio del credito, organizzazioni non profit e enti regolatori.
La discussione si è concentrata sui risultati dello Studio di Mercato delle Informazioni Creditizie della Financial Conduct Authority, che ha rivelato come gli attuali framework di reporting creditizio possano non fornire risultati coerenti per i consumatori. Le ricerche condotte da entrambe le organizzazioni hanno mostrato che le preoccupazioni riguardo ai punteggi di credito spesso impediscono alle persone di cercare aiuto finanziario, mentre coloro che stanno recuperando da difficoltà finanziarie affrontano un'esclusione finanziaria prolungata.
Il roundtable mirava a promuovere soluzioni pratiche per il reporting creditizio al fine di sostenere una maggiore inclusione finanziaria, consentendo agli individui che stanno estinguendo debiti di reinserirsi nell'ecosistema finanziario e accedere a crediti accessibili.
PRA Group (Nasdaq: PRAA) y StepChange Debt Charity organizaron un importante debate en mesa redonda en la Cámara de los Lores del Reino Unido el 4 de febrero de 2025, centrado en la inclusión financiera y la resiliencia del consumidor. El evento, presidido por el CEO de la Credit Services Association, Chris Leslie, reunió a partes interesadas de bancos, agencias de monitoreo de crédito, organizaciones sin fines de lucro y organismos reguladores.
La discusión se centró en los hallazgos del Estudio del Mercado de Información Crediticia de la Financial Conduct Authority, que reveló que los marcos actuales de reporte de crédito pueden no ofrecer resultados consistentes para los consumidores. La investigación de ambas organizaciones mostró que las preocupaciones sobre los puntajes de crédito a menudo impiden que las personas busquen ayuda financiera, mientras que aquellos que se recuperan de dificultades financieras enfrentan una exclusión financiera prolongada.
La mesa redonda tenía como objetivo avanzar en soluciones prácticas de reporte de crédito para apoyar una mayor inclusión financiera, permitiendo a los individuos que están pagando deudas reintegrarse en el ecosistema financiero y acceder a créditos asequibles.
PRA 그룹 (Nasdaq: PRAA)와 StepChange Debt Charity는 2025년 2월 4일 영국 상원에서 금융 포용성과 소비자 회복력에 대한 중요한 원탁 토론회를 개최했습니다. Credit Services Association의 CEO인 Chris Leslie가 주재한 이번 행사에는 은행, 신용 모니터링 기관, 비영리 단체 및 규제 기관의 이해관계자들이 모였습니다.
토의는 Financial Conduct Authority의 신용 정보 시장 조사 결과에 초점을 맞추었으며, 현재의 신용 보고 프레임워크가 소비자에게 일관된 결과를 제공하지 못할 수 있음을 밝혔습니다. 두 기관의 연구에 따르면 신용 점수에 대한 우려가 종종 사람들이 재정적 도움을 구하는 것을 방해하며, 재정적 어려움에서 회복 중인 사람들은 장기간의 재정적 배제를 겪고 있다고 합니다.
원탁 회의는 더 큰 금융 포용성을 지원하기 위해 실질적인 신용 보고 솔루션을 발전시키는 것을 목표로 하였으며, 부채를 상환하는 개인들이 금융 생태계에 재진입하고 저렴한 신용에 접근할 수 있도록 하였습니다.
PRA Group (Nasdaq: PRAA) et StepChange Debt Charity ont organisé un débat clé en table ronde à la Chambre des Lords du Royaume-Uni le 4 février 2025, axé sur l'inclusion financière et la résilience des consommateurs. L'événement, présidé par Chris Leslie, PDG de la Credit Services Association, a rassemblé des parties prenantes des banques, des agences de surveillance du crédit, des organisations à but non lucratif et des organismes de réglementation.
La discussion s'est centrée sur les conclusions de l'étude de marché sur les informations de crédit de la Financial Conduct Authority, qui ont révélé que les cadres de reporting de crédit actuels peuvent ne pas offrir des résultats cohérents pour les consommateurs. Les recherches menées par les deux organisations ont montré que les préoccupations concernant les scores de crédit empêchent souvent les gens de demander de l'aide financière, tandis que ceux qui se remettent de difficultés financières font face à une exclusion financière prolongée.
La table ronde visait à promouvoir des solutions pratiques de reporting de crédit pour soutenir une plus grande inclusion financière, permettant aux individus remboursant des dettes de réintégrer l'écosystème financier et d'accéder à un crédit abordable.
PRA Group (Nasdaq: PRAA) und StepChange Debt Charity veranstalteten am 4. Februar 2025 eine wichtige Podiumsdiskussion im britischen House of Lords, die sich auf finanzielle Inklusion und die Resilienz von Verbrauchern konzentrierte. Die Veranstaltung, die von Chris Leslie, CEO der Credit Services Association, geleitet wurde, brachte Interessengruppen aus Banken, Kreditüberwachungsagenturen, gemeinnützigen Organisationen und Regulierungsbehörden zusammen.
Die Diskussion konzentrierte sich auf die Ergebnisse der Marktstudie zur Kreditinformation der Financial Conduct Authority, die zeigte, dass die aktuellen Kreditberichterstattungsrahmen möglicherweise keine konsistenten Ergebnisse für die Verbraucher liefern. Forschungen beider Organisationen zeigen, dass Bedenken hinsichtlich der Kreditwürdigkeit oft Menschen davon abhalten, finanzielle Hilfe in Anspruch zu nehmen, während diejenigen, die sich von finanziellen Schwierigkeiten erholen, eine verlängerte finanzielle Ausgrenzung erfahren.
Das Ziel der Podiumsdiskussion war es, praktische Lösungen für die Kreditberichterstattung voranzutreiben, um eine größere finanzielle Inklusion zu unterstützen, damit Personen, die Schulden abbezahlen, wieder in das finanzielle Ökosystem eintreten und Zugang zu erschwinglichem Kredit erhalten können.
- Partnership with major UK debt charity StepChange strengthens PRAA's position in the UK market
- Strategic involvement in regulatory discussions could influence future credit reporting policies
- None.
Financial community comes together on practical ways to support people in debt
Stakeholders representing banks, credit monitoring agencies, not-for-profits, regulatory agencies and the government gathered on 4 Feb. 2025 at the Palace of Westminster in
In recent years, PRA Group
The recent gathering focused on findings from the Financial Conduct Authority's (FCA) Credit Information Market Study. The FCA, responsible for regulating financial service firms and financial markets in the
"We are delighted to be working with StepChange and the
Peter Tutton, head of policy at StepChange Debt Charity, said, "For many of our clients, worries about credit scores are front of mind, and our client research tells us that a fifth of StepChange clients delay seeking debt advice because of fears about how they may be affected. The FCA has recognized that change is needed to support consumers and our partnership with PRA Group on this topic seeks to improve client outcomes."
As part of the Credit Information Market Study, the FCA provided a number of recommendations to address problems faced by borrowers experiencing financial difficulty. Partners involved in the roundtable gathered to advance these recommendations with practical credit reporting solutions. Those solutions could support greater financial inclusion in the years to come by enabling people who are in the process of paying off their debt to re-enter the financial ecosystem and access affordable credit.
About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the
About StepChange
StepChange Debt Charity is the
News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
Elizabeth.Kersey@PRAGroup.com
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Vice President, Investor Relations
(757) 431-7913
IR@PRAGroup.com
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FAQ
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