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| Content Provider | Springer Nature Link |
|---|---|
| Author | Ryder, Nicholas |
| Copyright Year | 2007 |
| Abstract | This article questions the findings of several studies which have concluded that the Credit Unions Act 1979 was a factor limiting the growth of credit unions in the United Kingdom (UK). The author’s conclusions are based upon an analysis of the amendments to the Credit Unions Act 1979 introduced by the Financial Services Authority (FSA). As a result, the 1979 Act now reciprocates the controversial, yet flexible United States (US) legislative framework. In particular, the article examines the interpretation of the common bond, the provision of financial services and the regulation of credit unions. The article concludes that these three statutory provisions have assisted the growth of credit unions in both countries and not limited their development. However, the growth of credit unions has come, at the expense of their unique status and philosophy. It has made US credit unions, in particular, indistinguishable from banks. This is a problem which may affect credit unions in the UK. The article concludes that the Credit Unions Act 1979 did not limit their development, but acted as a galvanising factor for credit union expansion. |
| Starting Page | 147 |
| Ending Page | 166 |
| Page Count | 20 |
| File Format | |
| ISSN | 01687034 |
| Journal | Journal of Consumer Policy |
| Volume Number | 31 |
| Issue Number | 2 |
| e-ISSN | 15730700 |
| Language | English |
| Publisher | Springer US |
| Publisher Date | 2007-12-05 |
| Publisher Place | Boston |
| Access Restriction | One Nation One Subscription (ONOS) |
| Subject Keyword | Credit union Common bond Financial services authority Loans Regulation of credit unions Commercial Law Economic Policy Marketing Social Sciences |
| Content Type | Text |
| Resource Type | Article |
| Subject | Economics and Econometrics Business, Management and Accounting |
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