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Wed, 2 April 2025
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Lord Bird’s Credit Worthiness Bill has significantly raised the profile of current credit scoring methods - Responsible Finance

Responsible Finance

1 min read Partner content

The current credit scoring approaches available to both mainstream and affordable lenders often do not provide the information needed to make accurate lending decisions for all consumers, says Reponsible Finance. 


The current credit scoring approaches available to both mainstream and affordable lenders often do not provide the information needed to make accurate lending decisions for all consumers.

Our report ‘Scaling Up Affordable Lending: Inclusive Credit Scoring’ launched earlier this year highlighted the limitations of traditional credit scoring models.  It raised concerns that the current credit scoring methodology is not fit for purpose for all segments of the consumer market and excludes many people from accessing affordable credit.  Lord Bird’s Credit Worthiness Bill has significantly raised the profile of this issue. 

It is essential that we see a range of changes made to credit scoring approaches to ensure people are not unfairly excluded from access to affordable credit, instead are forced to use high cost credit and so at risk of financial exclusion

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