JRF responds to FCA proposals for a cap on rent-to-own goods

Responding to proposals from the Financial Conduct Authority for a cap on rent-to-own retailers, Campbell Robb, Chief Executive of the Joseph Rowntree Foundation said:

"It is not right that families on low incomes should be exploited when trying to afford the basics. On a low income, a large debt can be the thing that pulls you under, or even makes you destitute.

“The high cost of rent to own deals, combined with low pay, high rents and the benefits freeze, have swept too many families into poverty. The FCA is right to take action to tackle this problem, and it is now vital to ensure that people on low incomes have better access to affordable credit so that they can plan for a debt-free future.”