Hard Choices

Hard Choices

Financial Exclusion, Fringe Banks, and Poverty in Urban Canada

eBook - 2012
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"When low-income city dwellers lack access to mainstream banking services, many end up turning to 'fringe banks, ' such as cheque-cashers and pawnshops, for some or all of their financial transactions. This predicament of 'financial exclusion' - faced by those underserved by conventional financial institutions - is comprehensively examined in Jerry Buckland's powerful study, Hard Choices.
The first account of the nature and causes of financial exclusion in Canada, Hard Choices thoroughly integrates economic and social data on consumer choice, bank behaviour, and government policy. Buckland demonstrates why the current two-tier system of banking is becoming increasingly dysfunctional, especially in the context of new credit products that aggravate income inequality and stifle local economic growth. Featuring a foreword by esteemed economics scholar John P. Caskey, Hard Choices presents pragmatic policy improvements on both the public and private levels that can promote and build financial inclusion for all."--Pub. desc.
Publisher: Toronto ;, Buffalo :, University of Toronto Press,, [2012]
Copyright Date: Ă2012
ISBN: 9781442662612
Characteristics: 1 online resource (xviii, 270 pages)


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May 22, 2012

No problem with the presentation. However I do question some of the conclusions. For anyone interested in banking their is likely to be some insight on banking for marginalized segments in society. The prescription, which seems to be the author's main premise. of a bank tax to pay for baking services is not something I would endorse. Some policy adjustments combined with more community-banking initiatives would appear to be the best solution. I do not see an increase in the overall public good by making a majority of people pay more for their banking experiences. The author understands and outlines the costs involved for the payday loan companies. Some quantitative analysis on increase ( decrease ) in loan sharking versus the rise of payday loan outlets would be interesting. I am sure your own perspective will determine your enjoyment for this book, I would recommend to anyone who has some interest in the topic.

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