Empowerment of Whom and for What? Financial Literacy Education and the New Regulation of Consumer Financial Services

Williams, Toni (2007) Empowerment of Whom and for What? Financial Literacy Education and the New Regulation of Consumer Financial Services. Law and Policy, 29 (2). pp. 226-256. ISSN 1467-9930. (Full text available)

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http://dx.doi.org/10.1111/j.1467-9930.2007.00254.x

Abstract

Financial regulators in many states recently have obtained statuory mandates to enhance consumer financial literacy. This paper investicages the development of policy pursuant to such mandates in the UK and Canada to identify how national regulators in both countries represent financial market place. It finds that regulators in both countries represent financial education as empowerment and responsible consumer behaviour. The paper rekates the tension between empowerment and responsibilization aspects of literacy enhancement to policy goals of expectations of protection. It raises questions about regulators' use of consumer education to responsiblize consumption of financial products and calls for further research on the international growth of financial literacy education as a regulatory project.

Item Type: Article
Additional information: The definitive version is available at www.blackwell-synergy.com
Subjects: K Law
Divisions: Faculties > Social Sciences > Kent Law School
Depositing User: C.A.R. Kennedy
Date Deposited: 19 Dec 2007 18:39
Last Modified: 30 Apr 2014 08:46
Resource URI: http://kar.kent.ac.uk/id/eprint/981 (The current URI for this page, for reference purposes)
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