Low-Income UK Black Families Are More Likely to Be Denied Credit
- 49% of low-income Black families denied loans in past year
- Such families more likely to take on risky high-interest debt
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More than twice the proportion of low-income Black families are being declined credit than White families with a similar income, according to an upcoming report.
Almost half of such Black families were not approved after applying for credit in the 12 months to May, survey results from the Joseph Rowntree Foundation’s cost-of-living tracker show.