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Bank branch closures are always controversial, with governments and campaigners concerned over the impact on financial and social exclusion. This article will look at some of the arguments on both sides, while asking whether the UK should follow the example of the USA in enacting similar legislation to the Community Reinvestment Act, requiring financial institutions to have regard to the credit needs of the communities they serve. [ABSTRACT FROM AUTHOR]

The article discusses common bond and model law in credit unions in Great Britain. Common bond is a method of promoting security against loans, forming what has been called debt of honor. Changes in attitude toward the common bond and calls for reform of membership rules in the U.S., Ireland and Great Britain are discussed. A model law has been designed by the World Council for Credit Unions to ensure the continued success of such institutions. This law deals with membership and provides guidance on all aspects of what the council feels is necessary to ensure growth of the movement worldwide while maintaining prudential standards at all times.