Lee, W. orcid.org/0000-0003-2656-4106 and Brierley, J.A. (2023) Confluent trust, accountability, procedural justice, British credit unions and regulatory reforms after the global financial crisis. International Journal of Sociology and Social Policy. ISSN 0144-333X
Abstract
Purpose
The relationship between trust, accountability and procedural justice is studied via research into British credit unions (CUs) following regulatory reform to remedy problems exposed by the 2007–2008 global financial crisis.
Design/methodology/approach
Interviews at 13 case studies of different types and sizes of credit unions in Glasgow, Scotland, are examined using template analysis and abductive theorizing to understand the effects of disproportionate reforms on small credit unions.
Findings
Smaller credit unions found three regulatory changes – namely dual regulators, increased minimum reserves and introduction of the Senior Managers and Certification Regime – excessive. Excessive change generated distrust in regulators. Regulators' insufficient attention to procedural justice contributed to this distrust.
Originality/value
Linkage of multidimensional confluent trust to a multilevel system of accountability provides an original way of understanding how indiscriminate attempts at trust repair damage some elements of trust in formal regulatory systems. Recognition of the need for procedural justice to enable smaller credit unions to articulate their extant checks and potential exemption from formal regulations provides another valuable contribution. The explanation of the abductive logic employed is also original.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2023, The Authors. Except as otherwise noted, this author-accepted version of a journal article published in International Journal of Sociology and Social Policy is made available via the University of Sheffield Research Publications and Copyright Policy under the terms of the Creative Commons Attribution 4.0 International License (CC-BY 4.0), which permits unrestricted use, distribution and reproduction in any medium, provided the original work is properly cited. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ |
Keywords: | Trust; Accountability; Procedural Justice; Financial Exclusion; Microcredit; Credit Unions |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 10 Oct 2023 16:00 |
Last Modified: | 26 Oct 2023 11:07 |
Status: | Published online |
Publisher: | Emerald |
Refereed: | Yes |
Identification Number: | 10.1108/IJSSP-08-2023-0181 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:203925 |