Hard Choices: Financial Exclusion, Fringe Banks, and Poverty in Urban Canada

Hard Choices: Financial Exclusion, Fringe Banks, and Poverty in Urban Canada

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By Jerry Buckland
Foreword by John P. Caskey
University of Toronto Press, Scholarly Publishing Division © 2012
World Rights
288 Pages
ISBN 9781442612525
Published Mar 2012
Online discount: 15%
 $34.95    $29.71
ISBN 9781442640337
Published Mar 2012
Online discount: 25%
 $80.00    $60.00
ebook (EPUB format)
ISBN 9781442662612
Published Mar 2012
Online discount: 26%
Full purchase $34.95

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.

Jerry Buckland is a professor at Menno Simons College at the Canadian Mennonite University, and affiliated with the University of Winnipeg.


List of Illustrations

Chapter 1. The Context of Financial Exclusion in Canada
Chapter 2. Theories about Financial Exclusion
Chapter 3. Choosing Banking Services When the Options Are Limited
Chapter 4. The Business of Inner-City Banking
Chapter 5. Working for Financial Inclusion
Chapter 6. Conclusion

Appendix. The Importance of Partnerships

Hard Choices provides original and valuable insights into an important aspect of Canada's urban community. This timely study is bound to spur policy discussion and will appeal to those interested in social issues and outreach.‘

Gary A. Dymski, Department of Economics, University of California at Riverside