While in the UK there are a number of providers of financial education, such as Credit Action and Toynbee Hall, there is a real opportunity for social enterprise to provide financial education to credit providers (whether for profit or non-profit).
Poll: Should the FSA be promoting home credit providers?
Part of this financing has been replaced by alternative credit providers, which are creating new regulatory challenges".
Crosby's departure from Moneybarn come as the City regulator steps up scrutiny of consumer credit providers.
As for the zero-interest deals, the credit providers say that most of them end up being just that — interest-free.
The Financial Conduct Authority took over the regulation of consumer credit providers in 2014 and introduced tough new rules which forced many payday lenders out of business.
He added: "It is clear to me that there is an important role in society for such credit providers, but only if they put their customers first and lend responsibly.
Credit providers who treat their customers fairly should have nothing to fear from this long-overdue reform, but abusers should no longer be able to shelter behind bad law.
New credit providers – including mobile phone operators, traditional banks, e-commerce companies like China's Alibaba and online lending platforms such as Kiva – have emerged to serve people once excluded from the financial sector by their poverty.
The Office of Fair Trading OFTT) has concluded there is no need to cap the interest rates and other charges levied by high-cost credit providers such as doorstep and payday loan lenders.
