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| Author: | Ryder, N. |
| Title: | Credit union legislative frameworks in the United States of America and the United Kingdom - A flexible friend or a step towards the dark side? |
| Journal: | Journal of Consumer Policy
2007 : JUN, VOL. 31:2, p.147-166 |
| Index terms: | credit unions legislation loans regulations United Kingdom USA |
| Language: | eng |
| Abstract: | The purpose of this paper is to analyze critically the findings of numerous studies which have concluded that the Credit Unions Act 1979 was a factor limiting the growth of credit unions in the United Kingdom (UK). Based upon an analysis of the amendments to the Credit Unions Act 179 introduced by the Financial Services Authority (FSA), which reciprocates the controversial United States (US) legislative framework, this article investigates the interpretation of the common bond, the provision of financial services and the regulation of credit unions. The author argues that instead of limiting, these statutory provisions have assisted the growth of credit unions in the UK and ín the US, but at the expense of their unique status and philosophy. |
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