Initiatives for financial inclusion have come from the financial regulators, the governments and the banking industry. While the banking sector has taken several steps to promote financial inclusion, legislative measures have also been initiated in some countries.
For example, in the United States, the Community Reinvestment Act (1977) requires banks to offer credit throughout their area of operation and prohibits them from targeting only the rich neighbourhood. The German Bankers’ Association introduced a voluntary code in 1996 providing for an “everyman” current banking account that facilitates basic banking transactions.