Exposing the Credogenic Environment: Where does Responsibility Lie: Where does responsibility lie?

This paper explores the nature of the consumption environment of credit, termed the 'credogenic' environment and identifies its key players including financial services providers, regulators and consumers. Perspectives from both students and key informants from a range of consumer and debt advice agencies, regulatory bodies and banks in the UK and Ireland are presented. The pervasive culture of credit and the issue of responsibility emerge as key themes. While there is recognition of marketing's role in creating and sustaining the credogenic environment, there are differing views regarding lender and borrower responsibility and accountability. The adequacy and effectiveness of current legislation is questioned.