What is the FairLife Charity?
What the FairLife Charity does
A route to improving the lives of millions of people:
The FairLife Charity is improving everyone’s lives by improving the finance products we use everyday (e.g. loans, mortgages, savings, pensions) and promoting financial education.
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A fair-trading mark for all areas of finance
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A route to companies that price honestly and trade fairly with their customers
The FairLife Charity is about building knowledge and trust; knowledge to know what you need and trust in the products you rely on. Funds raised by licensing the FairLife Mark are used for financial education in schools and to promote good personal finance from school to retirement.
The FairLife Mark spans all areas of finance:
What is fair trading in finance?
The fair-trading* mark represents a pledge to price honestly and trade fairly with customers.
That’s a big ask. There are not many products that currently meet these standards, because profiting from hidden sources is good business. It makes your headline price seem cheaper than the competition, which is why many good businesses feel compelled to use the same practices.
Over time the FairLife Mark will bring an end to sneaky fees and rip-off penalty charges. An end to profiting from people's misfortunes and vulnerabilities. Many good firms want to rid their industry of these practises, but to do it they need your help (see Why we need the FairLife Charity).
What the FairLife Mark does NOT say
A FairLife Mark offers NO legal protection, it conveys only a moral commitment.
In addition, there are three things a FairLife Mark does NOT say:
A poor or unfortunate choice may lead to a bad outcome regardless of the FairLife Mark; so still do some checking.
The FairLife Mark will lead to a fairer society where effort is rewarded but nobody is exploited. Together with financial education this will help everyone to live happier lives and plan for their futures with confidence.
What is the FairLife Charity to finance firms?
By supporting the FairLife Charity and displaying the FairLife Mark your organisation will benefit in the following ways:
Trust
Regulatory Compliance
Public Recognition
ESG Contribution
Influence