An Executive Director at the UK financial regulator recently visited Hastings to better understand the issues faced by local residents in relation to problem debt.
Georgina Philippou, Chief Operating Officer at the Financial Conduct Authority (FCA), met Council Leader Peter Chowney to discuss the challenges residents are currently facing and the actions the Council is taking to address them. Georgina also met key local partners working to minimise poverty in Hastings. These include the Hastings and Rother Credit Union, who provide locally based financial services, the Sussex Community Foundation and Hastings Voluntary Action, who work to support local charities and community groups, and advisors at Brighton Housing Trust’s Hastings advice centre, who provide free and confidential specialist housing advice.
Amber Rudd MP said: “I am pleased that a representative from the FCA visited to Hastings to hear about the problems that local residents face in terms of harmful debt. This often affects the most vulnerable in our communities, so it is good to see that action is being taken to engage with stakeholders first-hand to improve the lives of residents.
“By understanding the issues faced by individuals who experience problem debt, we can work towards increasing their support and minimise poverty in Hastings.”
Georgina Philippou, Chief Operating Officer at the FCA, said: “The harms caused by problem debt, high cost credit and similar forms of borrowing are high on our agenda. In areas like Hastings these issues are disproportionately affecting vulnerable people. Our visit today provides us with the opportunity to meet people on the frontline working to protect people from the harms linked to credit and debt.”
Notes to editors
- Our regional engagement programme provides our Executive Committee members and Chair with high quality insight into the experience of financial services through the eyes of local firms, consumer groups, politicians, academics, and other key influencers across the UK. It is crucial to maintaining a good organisational understanding of relevant issues across the devolved nations and English regions.