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Sub-prime lending attacked.

07/02/08

The first financial exclusion conference in Tameside criticised sub-prime lending activity in areas of low incomes. Keynote speaker David Heyes MP used the occasion to mount a stinging attack on the cynical business strategy of firms who provide premium rates of credit attached to supply of household goods. Mr Heyes used his background of managing a Citizens Advice Bureau as well as his constituency casework to identify targeting of traditionally low wage areas like Tameside.

The "Money matters.and so do you" event took place at Hyde Town Hall. The conference aimed to raise awareness of financial exclusion and over 100 delegates came together to look at solutions. Money Information Network Tameside (MiNT) is an alliance of local organisations which organised the day.

It wasn't all talk. Manchester-based Waters Edge Theatre Company performed a thought-provoking short play about life in debt. And informal workshops got delegates to contribute their ideas to areas as diverse as savings, schoolwork and central heating. David Burdis, Financial Inclusion Manager, commented:

"We successfully attracted local residents as well as many advice agencies and service providers. Financial inclusion might be seen as jargon by some, but it's as simple as ABC: Advice, Banking and Credit. We were able to learn more, and stimulate the audience by having some fun along the way."

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