Policy & Research

Financial inclusion

People who are financially excluded, i.e. those without bank accounts, those who prefer to manage their budgets in cash, or those who are denied access to mainstream credit facilities, often end up paying more for goods and services because of how they pay. In addition a lack of knowledge and understanding of money issues can frequently lead to poor financial decision-making. The unintentional consequences of which can result in people finding it harder to budget, struggling to afford basic everyday essentials, such as food, fuel and other housing costs, and being more prone to unmanageable debt and exploitation from unscrupulous providers.

Consumer Focus Wales highlights and researches problems consumers encounter when dealing with money issues, with a particular focus on people who are financially excluded or particularly disadvantaged.

Our work in this area seeks to ensure people have access to:

• banking products that meet their needs and circumstances;
• affordable and appropriate forms of credit, savings and insurance;
• readily available debt and money advice; 
• and ultimately that the consumer interest is at the heart of policy decisions made by both the government and the financial services industry.