CRA has published two reports commissioned by the Department for Work and Pensions on competition and choice in personal accounts. These reports have fed into the Government’s White Paper on pensions.
Branded Choice in Personal Accounts examines the potential value from having competing private sector brands in the personal accounts market. The analysis finds some benefits from a limited amount of branded choice arise from enabling consumers to switch in the light of poor service, because providers can offer different options to consumers and because, over time, consumers may learn from the experience of having personal accounts and become more active in the future bringing benefits of competition as has been seen in other financial services markets.
What is disparate impact testing?
Disparate impact testing requires quantitatively testing models for fairness with respect to classes of borrowers protected under the Equal Credit Opportunity...