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FairLife Charity Reaches Key Milestone With 100 Supporters

British non-profit the FairLife Charity, a charity committed to promoting fair trading in finance, now has more than 100 supporting organisations. The Charity was founded on the belief that strong finance can be a positive driver for the U.K. economy by ensuring a trusted finance industry and a financially educated population. It aims to improve everyday financial products and to provide education around the responsible management of personal financial affairs in a bid to improve people’s life chances and [lessen the burden on the state].

The FairLife Charity awards its trademark logo - The FairLife Mark - to financial products or services that put customers first and deliver benefits above those required by law. Aimed at encouraging powerful financial institutions to trade more fairly with the British public, the mark guides customers to products they can trust, and away from providers that cling to poor practises.

The milestone demonstrates the significant demand from both consumers and the industry itself to improve practises. The FairLife Charity has been helped by a range of trade and member bodies including the Building Societies Association, the Association of British Credit Unions Ltd, UKFinance, The Savings and Investment Association, and AdviceUK.

Supported by Parliamentarians, senior financial sector executives, charities, and educationalists, the FairLife Charity is also piloting with two schools a programme to help and encourage the teaching of financial education in schools.

Dr. Paul Boscott, Founder of the FairLife Charity said: “I am absolutely thrilled that the charity has the backing of 100 different organisations. As we look to build back to a better and more resilient economy, a fairer and robust finance industry must be placed at the heart of the Government’s plans. The economic downturn has squeezed incomes across the country, and there is fear that pay day lenders are once again starting prey on the vulnerable. The FairLife Mark will prevent this by highlighting more responsible lenders and will stop those bad apples from damaging the reputation of the mainstream finance industry. The downturn is also highlighting the importance of saving for a rainy day, a skill which we are proud to promote.”

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