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Bank joins battle against loan sharks

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    A major high street bank has joined in the battle to protect the UK's poorest communities from loan sharks.
    Barclays says that it is to provide more access to its Financial Inclusion Fund to help some of the UK's poorest people who would otherwise have to turn to ruthless loan sharks as their only source of credit.
    The bank will make funds available through community finance organisations (CFOs). CFOs will be able to bid for a grant of up to £35,000. The successful CFOs will be those who can show that they can give more people access to affordable credit and general financial advice.
    Peter Kelly, head of financial inclusion at Barclays, said: "We have doubled this year's 'Financial Inclusion Fund' to try and support even more vulnerable people than the 9,000 that were helped through the CFOs supported by Barclays last year.
    "We feel that supporting the CFOs, who understand and work in the front line in deprived communities, is one of the best ways of us providing responsible banking in areas that are financially excluded, therefore helping the people who need it most."




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