Be Careful What You Ask For: What Role Now for Credit Unions in Addressing Financial Exclusion in Australia?

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Title Be Careful What You Ask For: What Role Now for Credit Unions in Addressing Financial Exclusion in Australia?
Author Wilson, Therese
Journal Name Griffith Law Review
Editor Therese Wilson and Nicola Howell
Year Published 2007
Place of publication Queensland, Australia
Publisher Griffith University, Law School
Abstract This article asks whether credit unions have a role to play in addressing financial exclusion in Australia. It considers the extent to which the current regulatory regime in Australia might hamper the ability of credit unions to contribute to financial inclusion, but then also asks whether credit unions in Australia do, in fact, have the ability to make that contribution, even under a less onerous regulatory regime. The focus on growth and the desire on the part of credit unions to be treated like banks for regulatory purposes may compromise the ability of credit unions to contribute meaningfully to financial inclusion in Australia, with the exception of small, community-based credit unions. Those credit unions do have a role to play, but will need to be granted appropriate regulatory exemptions to enable them to both start up and continue to operate as mutual organisations, focused on providing services to their members rather than generating profits.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.griffith.edu.au/criminology-law/griffith-law-review/previous-issues/volumes-12-19/volume-15-2-2006
Copyright Statement Copyright 2006 Griffith Law School. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Volume 15
Issue Number 2
Page from 370
Page to 389
ISSN 1038-3441
Date Accessioned 2007-08-16
Date Available 2015-01-23T05:24:36Z
Language en_US
Research Centre Socio-Legal Research Centre
Faculty Arts, Education and Law
Subject PRE2009-Law and Society
URI http://hdl.handle.net/10072/18221
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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