European University Institute Library

Civil society and financial regulation, consumer finance protection and taxation after the financial crisis, Lisa Kastner

eng

Includes bibliographical references and index

illustrations

index present

non fiction

Civil society and financial regulation

bibliography

975421039

Lisa Kastner

RIPE series in global political economy

consumer finance protection and taxation after the financial crisis

"Coalitions of consumer groups, NGOs, and trade unions have traditionally been considered politically weak compared to well-organized and resourceful financial sector groups which dominate or 'capture' financial regulatory decisions. However, following the 2008 financial crisis, civil society groups have been seen to exert much more influence, with politicians successfully implementing financial reform in spite of industry opposition. Drawing on literature from social movement research and regulatory politics, this book shows how diffuse interests were represented in financial regulatory overhauls in both the United States (US) and the European Union (EU). Four cases of reform in the post-crisis regulatory context are analyzed: the creation of a new Consumer Financial Protection Bureau in the US; the introduction of new consumer protection regulations through EU directives; the failure of attempts to introduce a financial transaction tax in the US; and the agreement of 11 EU member states to introduce such a tax. It shows how building coalitions with important elite allies outside and inside government helped traditionally weak interest groups transcend a lack of material resources to influence and shape regulatory policy."--, Provided by Publisher