Salad Money Impact Report 22-23 WEB - Flipbook - Page 21
LORD MCNICOL AND
BARONESS EVANS APPOINTED
JOINT CHAIRS OF SALAD
PROJECTS OVERSIGHT BODY
The Oversight Body’s mission is to
work in the interests of all applicants
to Salad Money.
Since the Body represents all
applicants for credit, whether or
not they become customers, it will
give consumers declined for credit
a voice which has been ignored by
policymakers until now.
In March 2023 we announced
a revamp of the Salad Projects
Oversight Body, which we believe
plays a unique role in the consumer
credit industry, with Baroness Evans
(Conservative) and Lord McNicol
(Labour) appointed its joint chairs.
credit, this work can play an
important role in tackling 昀椀nancial
exclusion and exploitation.”
Lord McNicol said: “Tackling 昀椀nancial
exclusion and giving struggling
consumers a voice is something
I have long campaigned for. I’m
looking forward to continuing this
vital advocacy work as part of the
Salad Projects Oversight Body.”
One of the Body’s core objectives is
to campaign for policy and industry
changes that will protect consumer
credit users, and applicants who are
declined for credit because they are
昀椀nancially vulnerable. Its work (such
as the harmful gambling report, p22)
is informed by data and analysis.
The appointments boosted Salad
Projects’ ability to advocate for
consumer credit applicants at a
time when at least 1 in 3 adults
now face di昀케culty accessing
credit from mainstream lenders.
Tim Rooney, Salad Money CEO
and board member of Responsible
Finance, which represents the UK’s
community development 昀椀nance
institutions (CDFIs), said:
Baroness Evans said: “I am delighted
to take on this role, helping protect
and promote the interests of
consumers using Salad Money’s
data-driven insights. By highlighting
issues facing individuals, regardless
of whether they are able to access
“Like most CDFIs, Salad Money
declines many people for credit
because they are 昀椀nancially
vulnerable and it would be
irresponsible to lend to them. We
help hundreds of thousands of
applicants build their 昀椀nancial
2022-2023 Impact Report
Lord McNicol & Baroness Evans
Salad Money Oversight Body
resilience even if we can’t grant
them a昀昀ordable credit, but know
that people declined for credit have
often been ignored by regulators
and policymakers. The Salad
Projects Oversight Body will ensure
their voice is heard. I am delighted
that Baroness Evans and Lord
McNicol are chairing it.”
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